OAB Launches New E-Payment Gateway Service ‘OAB iPAY’

Muscat, December 25, 2017: Oman Arab Bank (OAB), in order to further improve its corporate and institutional customers’ overall banking experience, has announced the launch of a new E-Payment Gateway facility. The new service is part of the Bank’s innovation roadmap to contribute in the digital economy by improving the electronic payment ecosystem. The Bank’s public and private sector corporate clients will be able to receive payments online through website and mobile applications for products offered and services rendered. OAB is a pioneer of electronic payments in Oman and with this financial service, will now strengthen its range of merchant payment acceptance solutions.

Commenting on the latest development, Fahd Bin Amjad, General Manager Retail Banking at OAB said, “In line with the vision of the Sultanate’s vision, the financial services industry is innovating rapidly to move towards a cashless society. This will bring transparency and convenience for all customers at large. At OAB, we believe that simplifying and digitizing payments is a cornerstone for economic development. OAB iPAY is a highly secure and intelligent online payment acceptance solution that will help our corporate customers expand their businesses in the digital world. ”

In order to subscribe to the service, corporate customers will require a simple Application Programming Interface (API) based integration with OAB iPAY. The bank will assist and supervise the process, which can be completed in as little as 2 weeks. All transactions processed through the customer website or mobile application receive an instant response of approval or decline. The approved transactions are credited real time into the corporate customer’s account, which is a feature unique to only OAB iPAY in Oman. There is also a team dedicated to providing support to the customers as well as a 24/7 fraud monitoring system.

“We seek to provide our customers a swift and reliable service, one that is fully compliant with CBO regulations. Customer experience is at the heart of our strategy. With this solution, we are bringing together the latest in technology and the best in customer relationship management.” Fahd Amjad added.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 148 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.