Bank Muscat Launches Oman’s First Electronic Wallet

The bm Wallet is primarily a state-of-the-art ‘cash on mobile’ solution which can be used for cash transfers to other mobile wallet users based on mobile numbers and aliases, according to a press release.

The bm Wallet app can be accessed on all iOS and Android devices with good Internet connectivity. The bm Wallet app is available free of cost in both English and Arabic in iOS and Android app stores.

Citizens and residents can avail the exclusive Bank Muscat mobile wallet app and load it with cash to a maximum limit of RO300. The loading of mobile wallet can be done using Bank Muscat’s largest network of electronic banking channels, including debit cards, ATMs, CDMs, mobile banking and internet banking.

To begin with, bm Wallet can be used to transfer funds to other bm Wallet users just by using their mobile numbers. Funds can also be transferred to non-Bank Muscat customers’ wallets by using their mobile number/alias if they are registered with the Central Bank of Oman’s (CBO) mobile payment and clearing system. The funds can also be transferred back from bm Wallet to the user’s Bank Muscat account.

The bm Wallet app is highly secure and does not store any sensitive information or transaction logs on the phone, which makes it totally secure. Bank Muscat has also built in other robust security features into the app.

Amjad al Lawati, AGM – cards and e-banking at Bank Muscat, said, “Bank Muscat is delighted to launch Oman’s first electronic wallet, introducing yet another innovative and advanced digital payment channel. We thank the CBO for all measures to align the banking sector in line with the government’s ambitious e-Government project. In conformity with international standards, the electronic wallet provides security and convenience for transactions through mobile phones as Bank Muscat remains committed to promoting the new facility as a preferred mode of payment.”

Source: muscatdaily