Bank Muscat launches electronic wallet for cash transfer

Bank Muscat has launched the first mobile wallet. The ‘bm Wallet’ marks yet another secure and convenient payment channel, reiterating the bank’s strong lead in rolling out electronic payment facility as part of the country’s e-Government initiative.

bm Wallet is primarily a state-of-the-art ‘cash on mobile’ solution which can be used for cash transfers to other mobile wallet users based on mobile numbers and aliases.

The bm Wallet app can be accessed on all IOS and Android devices with good internet connectivity. The bm Wallet app is available free of cost in both English and Arabic in IOS and Android app stores.

Citizens and residents can avail the exclusive Bank Muscat mobile wallet app and load them with cash to a maximum limit of RO300. The loading of mobile wallet can be done using Bank Muscat’s largest network of electronic banking channels, including debit cards, ATMs, CDMs, mobile banking and internet banking.

To begin with, bm Wallet can be used to transfer funds to other bm Wallet users just by using their mobile numbers. Funds can also be transferred to non-Bank Muscat customer’s wallets by using their mobile number / alias if they are registered with the Central Bank of Oman’s MpClear (Mobile Payment and Clearing) system. The funds can also be transferred back from bm Wallet to the user’s Bank Muscat account. The real time services are executed instantly and are available 24/7.

The bm Wallet app is highly secure and does not store any sensitive information or transaction logs on the phone, which makes it totally secure. Bank Muscat has also built in other robust security features into the app.

 

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