Oman to make Electronic Payment service mandatory from 2022

Oman to make Electronic Payment service mandatory from 2022
Oman to make Electronic Payment service mandatory from 2022

Muscat: Oman to make Electronic Payment service mandatory from 2022

The Ministry of Commerce, Industry and Investment Promotion issued an announcement obligating some existing commercial activities to provide electronic payment service to consumers, in cooperation with the competent authorities.

The ministry said in its statement that this comes in an effort to achieve digital transformation in the Sultanate and integrate efforts between government institutions in achieving the goal of a comprehensive digital society in line with Oman’s 2040 vision, explaining that the electronic payment service will be obligated in the first phase on the following activities:

All activities in industrial areas, complexes, commercial centers and gift markets.
Food sales activity.
The activity of selling gold and silverware.
The activity of restaurants and cafes.
The activity of selling fruits and vegetables.
Electronics sales activity.
The activity of selling building materials.
Tobacco sale activity.

The ministry indicated that the Central Bank of Oman, in coordination with banks and payment service providers, provided a point-of-sale (POS) device or any payment service for merchants without installation fees or monthly or annual fees for private sector institutions, and committed only to the fees related to merchant transactions (Merchant Service Fees). ) and specified by the Central Bank of Oman, with a maximum of 1.5% and a maximum of (10) Omani Riyals for payment via direct debit cards, and not more than 0.75% for mobile payments via a QR Code. ), in order to ensure the ease of providing this service.

The ministry called on all institutions and companies to commit to providing the electronic payment service in their stores and outlets and to reconcile their conditions before the end of 2021, provided that the application starts from 1/1/2022, with the need for institutions to place a poster or banner indicating the existence of the electronic payment service, in coordination with banks and service providers Payment services in the Sultanate, and the Consumer Protection Authority will receive complaints related to electronic payment through the authority’s communication channels

 

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