Oman advances towards cashless economy

MUSCAT: The Sultanate of Oman continues to make strong progress on the digital front in line with the objectives of Oman Vision 2040.

Indicators from the Digital Economy Explorer show notable advancement across several pillars of the digital economy, supporting policy development for sustainable digital growth.

As part of these efforts, the Ministry of Finance has launched the first phase of the Unified Government Financial System “Maliya”, aimed at modernising financial procedures and strengthening connectivity among government institutions.

Supporting the national digital vision, Global Money Exchange Co. LLC (GMEC) recently launched Global Pay, a new mobile payment application offering secure and inclusive digital financial services.

Powered by Comviva’s mobiquity® Pay platform, the app enables local and international payments and is PCI-DSS certified, ensuring high standards of security and data protection.

Sheikh Sulaiman Abdulmalik Abdullah Al Khalili, Chairman of Global Money Exchange, said that the Global Pay App enables secure and efficient local and international payment transactions. “We believe the mobile application will be widely adopted by both Omani nationals and expatriates,” he said.

Subromoniyan K S, Managing Director of Global Money Exchange, stated that customers can conveniently pay utility bills and educational fees without the need for a bank account, thereby supporting broader financial inclusion.

Sonam Dorje, General Manager of Global Money Exchange, said the Global Pay App is backed by a comprehensive customer support framework. Customers may visit any GMEC branch across Oman or contact a dedicated customer support helpline for prompt assistance.

Madhusoodanan R, Executive Advisor to the Board of Global Money Exchange, noted that GMEC is the first money exchange company in Oman to receive a Payment Service Provider (PSP) licence. He said the initiative strongly supports the Sultanate’s vision of building a cashless economy, adding that additional features will be introduced under Global Pay in a phased manner for the continued benefit of customers.