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.