140 firms fined for not offering cashless service
Published: 08:12 AM,Dec 18,2022 | EDITED : 12:12 PM,Dec 18,2022
cashless
Muscat: The Ministry of Commerce, Industry, and Investment Promotion (MOCIIP) has reported 140 violations by commercial establishments for not implementing the cashless payment system or having electronic payment devices as part of the efforts to achieve comprehensive digital transformation in the Sultanate.
The ministry stated that the decision includes eight commercial activities practiced in industrial areas, complexes, commercial centers, gift markets, foodstuff stores, gold and silverware stores, restaurants and cafes, fruits and vegetables, electronics, building materials, and tobacco stores.
MOCIIP confirmed that all institutions and companies must commit to providing electronic payment services in their stores and outlets, in coordination with banks and payment service providers in the Sultanate of Oman.
For the ease of providing the cashless service, the Central Bank of Oman (CBO) has coordinated with banks and providers of bill payment services to provide points of sale (POS) devices, or any payment service for merchants, without installation fees or monthly or annual fees, except for fees for merchants’ transactions specified by the Ministry that not exceed 1.5 percent, and a maximum of RO10 for payment via direct debit cards, and not more than 0.75 percent for mobile payment via a QR code.
The ministry said that the consumer can choose to pay online or choose to pay by phone.
The ministry stated that the decision includes eight commercial activities practiced in industrial areas, complexes, commercial centers, gift markets, foodstuff stores, gold and silverware stores, restaurants and cafes, fruits and vegetables, electronics, building materials, and tobacco stores.
MOCIIP confirmed that all institutions and companies must commit to providing electronic payment services in their stores and outlets, in coordination with banks and payment service providers in the Sultanate of Oman.
For the ease of providing the cashless service, the Central Bank of Oman (CBO) has coordinated with banks and providers of bill payment services to provide points of sale (POS) devices, or any payment service for merchants, without installation fees or monthly or annual fees, except for fees for merchants’ transactions specified by the Ministry that not exceed 1.5 percent, and a maximum of RO10 for payment via direct debit cards, and not more than 0.75 percent for mobile payment via a QR code.
The ministry said that the consumer can choose to pay online or choose to pay by phone.