Oman's Digital Future Arrives with Global Pay Launch

MUSCAT, Oman – January 19, 2026 – In a significant move set to accelerate Oman's journey towards a digital economy, Global Money Exchange Co. LLC (GMEC), a leading money exchange house in the Sultanate, today announced the launch of 'Global Pay'. This new mobile payment application, powered by Comviva’s globally recognized mobiquity® Pay platform, aims to provide secure, inclusive, and innovative digital financial solutions that align with the nation's ambitious digital transformation goals.

The launch represents a pivotal moment for Oman's financial technology sector, introducing a powerful new tool designed for both Omani nationals and the significant expatriate community. The initiative underscores a deep commitment to modernizing the country's payment infrastructure and fostering greater financial inclusion.

Accelerating a National Vision for a Cashless Society

The introduction of Global Pay is strategically timed to support Oman Vision 2040, the country's long-term blueprint for economic diversification and sustainable development. A central tenet of this vision is the creation of a sophisticated digital economy and the transition towards a cashless society. The Central Bank of Oman (CBO) has been a key driver of this agenda, actively modernizing the country's payment systems and establishing regulatory frameworks to encourage fintech innovation while ensuring consumer protection.

The Omani market has demonstrated a remarkable appetite for such digital solutions. Recent data reveals a massive shift in consumer behavior, with mobile payment transactions surging by an astounding 700% from 4.9 million in 2022 to 40 million in 2023, representing a total value of approximately $3.74 billion. This exponential growth signals a clear public preference for faster, more secure, and more convenient payment methods over traditional cash transactions.

Global Pay is poised to capitalize on and further fuel this trend. Speaking on the launch, Mr. Madhusoodanan R, Executive Advisor to the Board at Global Money Exchange, stated that this initiative "strongly supports the Sultanate's vision of a cashless economy." The app is not merely a new product but a piece of critical infrastructure contributing directly to a national strategic objective.

A Pioneering Partnership in Digital Finance

This landmark initiative is built on a strategic partnership between GMEC's deep local market expertise and Comviva's global technological prowess. GMEC has distinguished itself by becoming the first money exchange company in Oman to receive a Payment Service Provider (PSP) license from the CBO. This regulatory milestone authorizes the company to operate a broader range of payment services under strict oversight, positioning it as a fintech pioneer beyond its traditional remittance business.

Security and trust are paramount in digital payments, a fact emphasized by company leadership. Sheikh Sulaiman Abdulmalik Abdullah Al Khalili, Chairman of Global Money Exchange, highlighted the platform's robust security credentials. "The Global Pay App enables secure and efficient local and international payment transactions," he said, adding that "the platform is PCI-DSS certified, underscoring GMEC's commitment to the highest standards of payment security and data protection."

The technological foundation for Global Pay is Comviva's mobiquity® Pay platform, a powerful and scalable solution with a proven track record. The platform powers over 70 digital payment services for more than 130 million consumers globally, processing over 7 billion transactions valued at more than $130 billion annually. Its microservices-based architecture allows for rapid deployment and easy integration with other systems.

Rajesh Chandiramani, CEO of Comviva, commented on the collaboration, stating, "We are delighted to accelerate Global Money Exchange's digital transformation journey with mobiquity® Pay- our scalable, cloud-ready digital payments platform built to support rapid growth and seamless expansion. Global Pay exemplifies our commitment to empowering financial institutions across the Middle East to deliver world-class digital experiences that drive financial inclusion."

Expanding Financial Inclusion Beyond Traditional Banking

Beyond its technological sophistication, the most profound impact of Global Pay may be its potential to advance financial inclusion across Oman. The application is meticulously designed to serve not only tech-savvy, banked customers but also the unbanked and underbanked segments of the population, which include a large number of expatriate workers who are the backbone of the remittance industry.

Mr. Subromoniyan K S, Managing Director of Global Money Exchange, stressed this core benefit. "Customers can conveniently pay utility bills and educational fees without the need for a bank account, thereby supporting broader financial inclusion," he stated. This single feature dismantles a significant barrier to participation in the digital economy, allowing individuals to manage essential payments without relying on cash or traditional banking relationships. The app also facilitates seamless digital onboarding, wallet top-ups, domestic money transfers, and cross-border remittances.

Furthermore, the app promotes an interoperable payment ecosystem, which is crucial for widespread adoption. Mr. Subromoniyan also noted that "the platform enables merchants to accept QR-based payments from customers of any bank or service provider in Oman, ensuring full interoperability across the payment's ecosystem." This feature prevents the creation of a closed-loop system, allowing small businesses and merchants to easily accept digital payments from a wide customer base, thereby fostering a more inclusive and efficient retail environment.

Navigating a Dynamic and Competitive Market

Global Pay launches into a vibrant and increasingly competitive Omani fintech market, which is projected to grow to a value of RO 1.1 billion by 2025. The landscape is populated by a dynamic mix of traditional banks rapidly digitizing their services and agile fintech startups that have already gained traction. Major institutions like Bank Muscat and Oman Arab Bank offer their own mobile wallets, while pioneering fintech firms such as Thawani, the first non-banking entity to receive a CBO fintech license, have established a strong user base.

Despite the competition, Global Pay enters the market with several distinct advantages: its backing by a leading money exchange company with a vast physical branch network and deep-rooted trust within expatriate communities; its bank-agnostic design that promotes interoperability; and its focus on serving the financially underserved. To ensure a smooth user experience, the company has also established a robust support system. Mr. Sonam Dorje, General Manager of Global Money Exchange, confirmed, "The Global Pay App is supported by a comprehensive customer support framework. Customers can visit any of our branches across Oman for assistance or contact a dedicated customer support helpline for prompt resolution of queries."

This launch marks the first phase of a broader strategy for GMEC. As Mr. Madhusoodanan R mentioned, GMEC will, "in a phased manner, introduce additional features under Global Pay for the continued benefit of its customers."