MUSCAT: A crucial meeting was held today between the Shura Council and key stakeholders at the Central Bank of Oman to address the fees imposed on shop owners for electronic payment services. The discussion centered around the role of the Central Bank in shaping payment systems and the rapid advancements in electronic payment services.
In the meeting, participants reviewed the significant progress made in 2024 in expanding electronic payment options and enhancing the digital payment system. The journey of this development, which started years ago, has seen considerable growth, with new systems and services launched to streamline transactions and improve efficiency. Among the highlights discussed was the introduction of a modern electronic authorization system that has played a vital role in accelerating installment payment operations.
Their Excellencies emphasized the importance of transparency in the fee structure for electronic payment transactions. They underscored the need for clear communication of these fees to ensure fairness and trust in the system. Additionally, the Shura Council members called for the continuous development of the digital payment infrastructure to support the smooth functioning of commercial operations across the nation.
