Payments Landscape in Oman: Opportunities and Risks to 2022

2019-06-12
Price :
Published : Jun-2019
No. of Pages : 45

Payments Landscape in Oman: Opportunities and Risks to 2022

Summary

GlobalData’s ‘Payments Landscape in Oman: Opportunities and Risks to 2022’ report provides detailed analysis of market trends in the Omani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review-period (2014-18e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

GlobalData’s ‘Payments Landscape in Oman: Opportunities and Risks to 2022’ report provides top-level market analysis, information and insights into the Omani cards and payments industry, including:
– Current and forecast values for each market in the Omani cards and payments industry, including debit and credit cards.
– Detailed insights into payment instruments including cards, credit transfers, cheques, and direct debits. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Omani cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

– In July 2017 the Central Bank of Oman (CBO) launched MpClear to facilitate mobile-based instant payments. The service enables bank customers to transfer funds using their mobile phone number instead of a bank account number. Users can conduct a wide range of transactions via MpClear, including person to person, person to business, person to government, person to merchant, business to person, government to person, and business to business. MpClear is an interoperable system, and provides unified switching and clearing services between various mobile banking systems operated by different banks in Oman.
– Alternative payments are gradually gaining prominence in Oman, with banks and telecom companies launching services. The latest is eFloos, a mobile payment solution launched by telco Omantel in March 2019. The solution allows users to make payments at merchant stores and fund transfers to other eFloos users. Meanwhile, Alizz Islamic Bank launched Alizz Wallet in February 2018, which is offered as part of its existing mobile banking app. The solution enables customers to make instant fund transfers from their wallet to other wallets in Oman via a phone number.
– Improvements to logistics and payment infrastructure are driving e-commerce in Oman. In November 2017, Oman Post launched an e-shipping service called Matjar, allowing Omanis to receive goods purchased from US-based online merchants. And in March 2019 Oman Post launched the eLockers service, which enables customers to pick up parcels from lockers at their chosen time, day, and place. To facilitate a cost-effective, secure debit card payment platform for e-commerce transactions, the CBO introduced the OmanNet Debit Card E-Payment Gateway in November 2016.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Omani cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Omani cards and payments industry.
– Assess the competitive dynamics in the Omani cards and payments industry.
– Gain insights into marketing strategies used for various card types in Oman.
– Gain insights into key regulations governing the Omani cards and payments industry.

Filed in: Banking & Finance
Publisher : GlobalData
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