Oman sees decline in ATM use as mobile payments gain acceptance

Muscat; The Sultanate of Oman's ATM transaction volume declined by 14.5 percent, with total value reaching RO2.66 billion, reflecting a reduced reliance on cash withdrawals. Conversely, the Mobile Payments Clearing and Switching System (MPCSS) recorded remarkable growth, with transaction volume surging by 99.4 percent and value rising by 87.9 percent, highlighting the rapid adoption of mobile and instant payment solutions. Point-of-Sale (POS) transactions increased significantly by 47.4 percent to a total value of RO4.23 billion, indicating a strong embrace of contactless and card-based payments, while e-commerce transactions grew by 20.4 percent to RO1 billion, demonstrating a steady expansion in digital retail activity.

A key milestone was the 2025 launch of the domestic payment card, Maal, which represented a vital step toward enhancing national payment sovereignty, lowering transaction costs, and improving data security. 
This progress was further supported by the expansion of Omani banks’ participation in the GCC Real-Time Gross Settlement system, known as Afaq, which strengthens regional financial integration and provides a more efficient, cost-effective alternative for cross-border payments across the GCC. 
Additionally, the implementation of the second phase of the International Bank Account Number (IBAN) system for domestic transfers significantly enhanced payment accuracy and reduced operational errors, aligning Oman’s payment infrastructure more closely with international standards. 
Ultimately, the expansion of OmanNet and MPCSS signals a clear transition toward a cashless economy, with these systems and the Automated Clearing House serving as key enablers of digital transformation that support overall financial system efficiency and stability.