OIFC, ProgressSoft partner for mobile payment services

Monday 3 May 2021 08:16 CET | News

Investment and Services Company Oman Investment & Finance Co. (KHEDMAH) has partnered with ProgressSoft to enhance its Khedmah application with value-added mobile payment services.

With a presence of over four decades, OIFC is a Joint Stock Organisation listed on the Muscat Securities Market (MSM), and has established its reputation as an undisputed leader in Oman in providing services in telecom and utility sectors which cover Billing, Collection & Debt Factoring for Electricity, Water, and Telecom Services in the Sultanate.

The move comes after OIFC received an in-principal approval from the Central Bank of Oman to become a Payment Service Provider in the country. The agreement with ProgressSoft enables OIFC to have a technical partner for execution and subsequently launch the Khedmah e-wallet after fulfilling the requirements of CBO and acquiring the final approval. 

Using ProgressSoft’s Mobile Payments Platform, Khedmah will develop new systems to offer the existing and new customers of OIFC the ability to conduct numerous financial transactions including bill payments and international remittances, as well as person-to-person, person-to-business, and person-to-government money transfers, using their smart phones.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, mobile payments, PSP
Categories: Banking & Fintech
Countries: Oman
This article is part of category

Banking & Fintech