Starting in March 2024, NBO will introduce instant fund transfers to Pakistan at competitive exchange rates through a direct corridor partnership with HBL. The collaboration aims to streamline international remittances to Pakistan, aiming for more efficiency and timeliness in service delivery.
Representatives from NBO cited by zawya.com emphasised the bank's dedication to providing innovative financial solutions and improving the overall banking experience for customers through its partnership with Habib Bank Limited. In essence, NBO aims to cater to expatriates by offering swift, secure, and convenient remittance options through the instant fund transfer service to Pakistan.
The instant fund transfer service will be available to Pakistan residents at all NBO branches in Oman, ensuring a reliable remittance experience. Customers will have 24x7 access to instant fund transfers, and competitive exchange rates, and will gain the ability to use the service through the NBO App or across the entire NBO branch network, enhancing overall convenience.
Representatives from HBL expressed pride in the partnership with the National Bank of Oman, emphasising the provision of secure and cost-effective cross-border payments via NBO digital channels. The collaboration enables remittances to Habib Bank Limited and various other bank accounts, including the option for Cash Over Counter transactions at any of HBL's branches in Pakistan. This agreement aims to solidify the strategic partnership between the two financial institutions while improving remittance services to Pakistan.
NBO has expressed its committment to delivering innovative banking solutions, focusing on digital transformation and customer-centricity.
In January 2024, NBO announced a strategic collaboration with UnionPay, aiming to introduce contactless payments in the region. Through this partnership, NBO aimed to become one of the first banks in Oman to introduce UnionPay acceptance and allow all its terminals to accept contactless payments, enabling cardholders to use their mobile wallet and mobile banking app or contactless cards to pay for goods and services.
The partnership between NBO and UnionPay allowed all merchants in Oman to provide the latter’s contactless payment to customers, offering a cost-effective, secure, and simple payment experience at the point of acceptance for businesses and cardholders.
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