Paymob secures Central Bank of Oman’s PSP license, powering FinTech

A financial services enabler called Paymob has been granted the Payment Service Provider (PSP) license by the Central Bank of Oman (CBO). This license allows Paymob to accept and process online and in-store payments in Oman, using the CBO’s secure payment infrastructure, OmanNet. Paymob aims to support the digital transformation of Oman’s banking sector and enable small and medium-sized enterprises (SMEs) to thrive in the digital economy. The company offers a wide range of payment methods and serves 250,000 merchants across the Middle East, North Africa, and Pakistan (MENAP) region.

Key takeaways from the article include:

• Paymob has received the PSP license from the Central Bank of Oman, allowing it to accept and process payments in Oman
• This milestone enables merchants in Oman to accept local and cross-border payments through Paymob’s gateway, saving them from having to integrate multiple gateways
• Oman is actively working towards the digital transformation of its banking sector, supported by its Vision 2040 initiative
• Paymob aims to enable SME growth in Oman by providing innovative payment solutions