Arab Financial Services (AFS) has expanded its partnership with Oman Arab Bank (OAB) to reaffirm their shared commitment to development in the digital banking space in Oman.
The partnership expands AFS’s processing expertise, allowing the two companies to leverage and integrate tokenisation for global digital wallets. Leveraging AFS’s experience, OAB has already deployed tokenisation across platforms like Apple Pay, Google Pay, and Samsung Pay, contributing to Oman’s rapidly evolving digital payments landscape.
A new digital payments platform
The partnership also supports OAB’s mission to become one of the first banks to migrate to AFS’s digital payments platform. This solution is designed for the current payments landscape and to future-proof operations, offering speed and configurability. AFS mentioned that the decades-long alliance with OAB is reflected in the new agreement as their shared commitment to contributing with developments in the digital banking sector. The collaboration aims to cultivate a landscape of secure and customer-centric financial services in the region.
OAB is committed to supporting developments that improve its customers’ experience and future-proof its solutions, focusing on its digital transformation and contributing to the market with simple and secure payment solutions. The partnership strengthens AFS’s presence in the region’s fintech space and advances OAB’s vision to offer optimised banking experiences, shaping the broader payments landscape in Oman.
AFS was formed to offer payment products and expertise to banks and merchant groups, providing customised payment solutions in an increasingly dynamic ecosystem. AFS is owned by 37 banks and financial institutions and serves clients across 20 countries in Africa and the Middle East. AFS also recently partnered with EDF to optimise payments in Libya, and with Terona to launch Athar for crypto payments, focusing on simplifying and improving crypto payments for everyday transactions, making them more accessible and practical.
