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Banks in the Sultanate of Oman are preparing or in the final stages of launching the Apple Pay digital payment service.
According to top industry sources, no exact date has been set, but the goal is to launch the service sometime in September.
“All banks are preparing for this but no official launch date has been announced yet,” said a source at a major bank.
The service is already widely used in the UAE, Saudi Arabia, Qatar and Bahrain.
Not only banks but also consumers are keen to move away from card and cash payments.
“Some retailers have started accepting mobile money transfers if customers don’t have cash. They find it more convenient than accepting credit cards, which require retailers to pay fees. Currently, mobile money transfers can only be done if both parties have accounts in the same bank. Apple’s digital payment will encourage money transfers regardless of accounts,” said Nasser al Balushi, a frequent traveler.
“As of now, the exact date of the launch remains uncertain. However, various sources have confirmed some details that suggest the launch could be as late as September. If we are optimistic, we could see something as early as the last week of August. It is worth noting that one of the banks briefly published these details on its website and then quickly removed it, which further adds credibility to the expected timeline,” said Mohamed Saif al Manji of TechOneFive, an initiative that aims to spread awareness of new technologies.
As iPhone is widely used in the Sultanate of Oman, the launch of its digital payments is eagerly awaited by people across the country.
The Central Bank of Oman (CBO) has issued guidelines and directives for banks and payment service providers to offer card tokenization services, which will replace the current card-based payment methods.
Customers do not need to pay any fees to activate and use the service.
The Congressional Budget Office said the latest decision will encourage innovation in electronic payments and reduce reliance on cash.
All banks in the country have launched the Samsung Pay digital wallet.
A senior executive at the Congressional Budget Office recently said that Apple is currently in the final stages of preparation and will launch it in the next few months.
According to the CBO report, total retail transaction volume increased significantly by 22.5% compared to the previous year.
In 2023, the number of transactions will reach 355.2 million, up from 274.4 million in 2022, which can be attributed to factors such as the wider adoption of electronic payment methods and the increasing reduction in the use of cash.
Customers can easily set up Apple Pay on their iPhone Wallet.
It is reported that customers can make contactless payments by simply placing their iPhone or Apple Watch close to the payment terminal.
The purchase process is secure as it is authenticated via Face ID, Touch ID or your device passcode and a one-time security code. Apple Pay is accepted in all stores, taxis, restaurants, coffee shops, retail stores and more.
Customers will be able to make faster, more convenient purchases in the app or on Safari on the web without having to create an account or repeatedly enter shipping and billing information.
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