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Oman to push SMEs through e-finance

Oman has announced a framework allowing small businesses to use electronic payment services, the Sultanate’s state news agency has reported.

The move by the Central Bank of Oman (CBO) is part of a larger campaign to promote cashless transactions across the country, as well as a national e-commerce strategy already implemented in the public and private sectors.

The framework applies to micro businesses with less than ten employees, such as gas delivery services or small restaurants.

The new government directive will allow these entities to acquire e-payment facilities – payment cards, mobile transactions, electronic wallet applications – from licensed banks and payment service providers.

Source: Arab News

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