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Central Bank of Oman, FSS partner to create national payment gateway

OmanNet Payment Gateway will process national debit transactions and enable merchants in the sultanate to offer e-commerce services.

May 26, 2015

Payment tech provider FSS Technologies FZE, the Middle East subsidiary of Chennai, India-based Financial Software and Systems, is working with the Central Bank of Oman to implement the OmanNet e-payment Gateway in the Sultanate of Oman.

The partners are also in the process of replacing the FI's existing settlement and dispute management system with FSS Recon, a PA-DSS certified product, according to a press release.

"Implementing OmanNet payment gateway is yet another initiative by CBO to enhance the payment infrastructure in the country and stimulate growth of e-commerce in government and nongovernment entities," said Badar Khalid Ahmed Al Aghbari, a manager at Central Bank of Oman.

The PA-DSS 3.0-certified Internet Payment Gateway by FSS is an e-commerce payment processing platform with advanced authentication that enables institutions, processors and merchants to accept and process online and offline payments seamlessly and securely, the release said.

Once the platform is operational, OmanNet Payment Gateway will process national debit transactions and will facilitate merchants in the Sultanate of Oman to offer e-commerce services to their clients.

According to the release, FSS has so far partnered with six of 10 major Middle East banks, and is in project discussions with other FIs in the region.

"With these emerging opportunities for FSS, I foresee the Middle Eastern region playing a significant role in consolidating our position as the preferred global leader in payments," FSS Managing Director Nagaraj Mylandla said in the release.