Muscat: The Central Bank Of Oman issued instructions for banks and PSPs to provide Card Tokenization Service. This service allows local and international electronic payment applications available on smart devices to activate their services in the Sultanate of Oman
The Central Bank of Oman issued guidelines and instructions for banks and payment service providers to provide Card Tokenization Service
Card Tokenization – Replacing the primary card number with a “Token” that is used on smart devices to complete payment transactions securely
With the aim of:
Providing a new seamless payment experience
Encouraging innovation in electronic payments, and less cash dependent
Enhancing security in card payment transactions
Supporting the national digital transformation programme and e-commerce strategy
With the activation of the Card Tokenization Service:
Customers can register payment cards on smart devices, and perform contactless payment transactions
Local and international electronic payment applications on smart devices (such as Apple Pay, Samsung Pay, etc.) will be able to activate their services in the Sultanate of Oman
Customers will not be charged any fees for activating and using the service
The service activation process is expected to take 6-9 months
Based on the readiness of banks and payment service providers
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