Banking & Finance Oman and India study e-linking some payment services By Pramod Kumar October 5, 2022, 5:15 AM REUTERS/Dado Ruvic RuPay logo is displayed on the smartphone. The Central Bank of Oman has signed a memorandum of understanding (MoU) with India’s flagship payments processor, National Payments Corporation of India, to study the possibility of linking some payment systems between the two countries, according to Oman’s state news agency. The MoU aims at studying the possibility of connecting the unified payments interface and RuPay Card, card payment network, used in India with similar payment systems and services in Oman. The proposed cooperation will further consider the possibility of allowing debit cards issued by Omani banks to be used in India through OmanNet, as well as using the mobile payment system. In September 2022, the number of transactions on India’s UPI platform crossed 6.78 billion amounting to over INR 11.16 trillion ($13.61 billion), the Indian Embassy in Oman said in a statement. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
