The partnership between AFS and Samsung Gulf Electronics to introduce Samsung Pay in Oman combines the former’s regional expertise in digital payment solutions with Samsung's innovative technology to equip Omani consumers with a secure and convenient contactless payment option. The collaboration strengthens AFS's position in the Omani market and expands Samsung Pay's reach while benefitting Omani consumers with enhanced convenience and security in their daily transactions.
This development aligns with the Central Bank of Oman's guidelines for banks and payment providers to offer card tokenization services. Moreover, the partnership represents a significant step in Oman's digital transformation journey, enhancing the country's financial ecosystem and promoting the adoption of advanced digital payment methods.
Officials from AFS said this milestone strengthens their partnerships with Omani banks while fostering innovation and competitiveness. By supporting Samsung Pay adoption, AFS is contributing to Oman's economic growth and regulatory objectives, making transactions more efficient and inclusive.
In a reply, representatives from Samsung said that by offering Omani consumers a secure, convenient, and contactless payment solution, they're not just transforming transactions – they're enhancing the overall shopping experience. This partnership with AFS marks an exciting step forward in digital payments for the region.
Samsung Pay adheres to global payment security standards and regulations, ensuring bank compliance and reducing compliance risks and potential penalties. The platform's features, such as tokenization and biometric authentication, enhance transaction security while offering users a convenient way to pay with their mobile phones.
This regional banking breakthrough reaffirms AFS's commitment to the Omani market and its dedication to supporting banks and regulators in achieving payment digitisation goals. By spearheading the adoption of Samsung Pay, AFS is playing an important role in promoting digital transactions and advancing the financial ecosystem in Oman.
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