Oman’s Bank Muscat has introduced QR codes for payments, expanding its e-payment options.
The QR code scanning option allows merchant partners to accept e-payments from customers quickly and securely. More than 440 merchants have started using the e-payment option.
“E-payments benefit our merchant partners, customers, and the general public by improving financial inclusion and offering convenient and highly secure payment options hence, it is important that businesses offer various e-payment options that will boost economic growth and development. QR-code-based payments are particularly helpful to small businesses in this regard. We are confident that the ongoing digital transformation will help our nation and its people achieve the ambitious goals of Oman Vision 2040,” Abdullah Hamood Al Jufaili, Assistant General Manager, Digital Banking, Bank Muscat, said.
E-payments are on the rise across the Middle East and North Africa region. Ninety-five percent of MENA consumers are likely to consider using at least one emerging payment method in the next year, a 2021 study from payment giant Mastercard found. For QR codes, 55 percent said they plan to use the payment method in the next year, with 69 percent saying QR codes are cleaner and more convenient for in-person payments.
