National Bank of Oman partners with UnionPay

30 January 2024
UnionPay contactless payment solution provides a secure payment experience for merchants and cardholders

The article was first published by MEED's sister site Electronic Payments International

by Robert Prendergast

National Bank of Oman (NBO) and UnionPay have partnered to introduce contactless mobile payments in Oman. Under this strategic partnership, NBO will become the first bank in Oman to launch UnionPay acceptance. This will enable all its terminals to accept UnionPay contactless payments, where cardholders can use a mobile wallet such as ApplePay, a mobile banking application or contactless cards.

As a result of this partnership, all major merchants in Oman will be able to offer UnionPay contactless payment to customers. UnionPay contactless payment solution provides a secure and seamless payment experience at the point of acceptance for merchants and cardholders.

Tariq Atiq, chief retail and digital banking officer at NBO, said: “NBO is the first local bank in the Sultanate of Oman, and today we are proud to announce that NBO is the first bank to launch UnionPay card acceptance in Oman. UnionPay acceptance across our merchant network will help our customers grow their business by empowering them to accept cards from the largest international payment scheme."

Welcoming cardholders from China

“NBO is now pleased to welcome cardholders from China, currently the biggest trading partner for Oman. We hope this partnership will flourish further and we can offer more products from UnionPay to our customers and business partners in the future. We aim to enable all our merchants to begin accepting UnionPay cards by mid-next year, making NBO the first network of UnionPay card acceptance in Oman,” said Atiq.

James Yang, general manager of UnionPay International Middle East, commented: “UnionPay International is excited to partner with NBO in revolutionising innovative payments in Oman. By opening their doors to cardholders from [more than] 75 countries – including the largest segment of customers travelling from China – we strongly believe that the contactless payment experience will support local businesses to scale up their business.

“The payment solution will feel similar to what our Chinese customers experience in their home country using mobile banking apps, ApplePay, Samsung Pay, Huawei Pay, Mi Pay and physical UnionPay contactless payment cards. We are confident this solution will open doors to new categories of merchants willing to accept UnionPay cards, offering customers a new secure, fast and seamless payment experience.”

MEED’s January 2024 special report on Oman includes: 

> COMMENT: Muscat needs to stimulate growth
> GOVERNMENT & ECONOMY: Muscat performs tricky budget balancing act

> BANKING: Oman banks look to projects for growth
> OIL & GAS: Oman diversifies hydrocarbons value chain
> POWER & WATER: Oman expands grid connectivity
> HYDROGEN: Oman seeks early hydrogen success

> CONSTRUCTION: Oman construction is back on track

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