Muscat, March 26, 2024 - Oman Investment & Finance Co. (Khedmah), a pioneer in payments and collections services in the Sultanate of Oman, is set to revolutionize the digital landscape in the country with the launch of its innovative e-wallet, “Khedmah Pay”. Following the Central Bank of Oman's (CBO) approval, Khedmah has now finalised the integration for a seamless and secure digital payment experience, marking a significant milestone in the company’s commitment to digitalization. Khedmah Pay will serve as an additional payment option for customers looking to enhance their digital payment experience, replacing traditional alternatives such as cash payments, credit card payments, or bank transfers.

Said Ahmed Safrar, Chief Executive Officer at OIFC, emphasized the importance of the e-wallet launch, stating, “By harnessing the latest developments in the digital realm and seamlessly integrating them into every aspect of its operation, Khedmah has been successful in delivering sophisticated payment solutions to its customers. The introduction of the e-wallet is a milestone in our digital roadmap, enabling the masses to transact digitally even without a bank account or credit card. As a result of these outstanding initiatives in the sphere of digital innovation, coupled with the determined commitment to pushing the limits, Khedmah is uniquely positioned to capitalize on this opportunity, offering a suite of digital services to individuals and corporations alike”.

He expressed his pride in obtaining the license, stating, “This reflects our commitment to enhancing the digital payment experience securely, smoothly, and quickly, while reducing efforts and costs for our esteemed customers. We express our gratitude to the Central Bank of Oman for their trust and look forward to creating innovative opportunities that align with the rapid transformations in Oman’s socio-economic landscape.”

Khedmah Pay will allow valued customers interested in utilizing this feature to open an account in the E-wallet through simplified procedures. Subsequently, they can add funds to the wallet, enabling them to make payments through Khedmah Pay app. This includes paying bills, recharging mobile and electricity balances, subscribing to entertainment channels, settling traffic fines, insuring their cars, and other available services in the Khedmah Pay app.

Moving forward, Khedmah Pay will diversify and expand its network of affiliated stores and shops, allowing wallet users to make purchases at these establishments using the E-wallet. Additionally, various services will be made available to subscribers within the wallet.

Khedmah Pay users will enjoy the convenience of recharging their e-wallets, embedded in the popular Khedmah mobile app, and making payments by simply scanning QR codes at various shops, stores, and hypermarkets, or through transferring to the phone number associated with the bank account. Recharging the e-wallet is flexible, allowing users to link it to their existing bank accounts or conveniently replenish it with cash at any of Khedmah’s branches throughout the Sultanates, catering to individuals without a bank.

Aligned with the Ministry of Commerce, Industry and Investment Promotion’s initiative to promote electronic payment services, Khedmah extends the E-wallet to small businesses, SMEs, and other enterprises. Businesses can enjoy socio-economic benefits and facilitate quick, secure, and easy transactions for their customers by onboarding and registering for Khedmah’s E-wallet service.

It is worth mentioning that Khedmah launched the E-wallet project in partnership with one of the leading financial technology companies operating in the region, (Progress Soft), renowned for its collaboration with numerous automated payment service providers to enhance customer experiences and streamline digital payment processes. This reflects the Khedmah’s commitment to continuous improvement of this experience through such partnerships, ensuring future expansion in the services encompassed by the E-wallet.

The Central Bank of Oman actively supports the country’s shift to digital payments. In securing the license from CBO, (OIFC) Khedmah is poised to provide the best digital payment experiences for customers, effectively contributing to enhancing the digital landscape in the Sultanate.

Khedmah Pay, the eagerly anticipated E-wallet, is now live, ushering in a new era of digital payments in Oman. Follow @khedmah_official on Instagram for details on registering in the wallet and operating procedures. Download the Khedmah app or visit a Khedmah branch for further information on registration and to experience the future of digital transactions.