NBO Continues To Pioneer Payments As Oman Goes Cashless

Press release
Published January 17th, 2022 - 11:37 GMT
NBO Continues To Pioneer Payments As Oman Goes Cashless
Maha Al Raisi
Highlights
National Bank of Oman (NBO) has been on the journey towards cashless for a number of years and, in support of Oman’s 2040 Vision to promote nationwide digitalization

National Bank of Oman (NBO) has been on the journey towards cashless for a number of years and, in support of Oman’s 2040 Vision to promote nationwide digitalization, its ever-growing portfolio of smart solutions are helping individuals and businesses alike make the switch. From QR Codes to mobile wallets, biometrics and NRI (instant remittance), it is tapping into the world’s leading technologies, while its cards offer an ever-expanding range of benefits and rewards that not only exceed its customers’ expectations but genuinely improve their lives.

“Oman is fast moving towards becoming a cashless society, bolstered by the government’s recent mandate for private sector businesses to start switching to cashless payment channels. The use of cards has been on an upward trajectory for a while and now digital payment modes are also expected to double in popularity by next year, having skyrocketed during the pandemic” said Maha Saud Al Raisi, AGM, Head of Retail Products at NBO. “As we carry this momentum forward, we are ensuring that we are equipped to cater to future demands and at the same time, offer our customers a wholly modern banking experience.”

As part of its efforts, NBO has made several additions to its mobile banking app such as a digital remittance service, and a cardless cash service that utilises QR codes for ATM withdrawals. Savvy customers can also take advantage of its multi-purpose banking kiosk, which enables customers to renew and print out their cards on the spot. More recently, it launched the first-of-its-kind Merchant App to help businesses moving away from cash. The app allows merchants to receive payments simply by scanning a QR Code on the customer’s mobile phone, or even remotely by raising a Static QR Code, which will be sent to the customer via email or WhatsApp. They can then log into the app, add the amount, and pay.

Meanwhile, with its suite of debit, credit and prepaid cards, the bank offers a range of perks like movie tickets, dining and hotel discounts, free travel insurance, airport lounge access, as well as Nuqati points, while providing a smart, safe choice to pay.

As it looks to the next phase of digital transformation, NBO continues to meet the needs of a rapidly changing market, while finding more ways to make day-to-day banking more rewarding and enjoyable.

 

Background Information

National Bank of Oman

Founded in 1973, National Bank of Oman was the country’s first local bank, forging a rich history with Oman’s local businesses and its economy at large. Today, it is one of the largest banks in Oman, with a paid up capital of OMR (Omani Rials) 110.8 million (US$ 288 million) and a regulatory capital of OMR 377.8 million (US$ 981 million)*.​

Check out our PR service


Signal PressWire is the world’s largest independent Middle East PR distribution service.

Subscribe

Sign up to our newsletter for exclusive updates and enhanced content