Central Bank of Oman issues clarification on fees through mobile payment system

PHOTO

Muscat: The Central Bank of Oman has issued a clarification regarding the payment of fees for money transfers using the Mobile Payment System (MPCSS).

The Central Bank of Oman confirmed that the merchant has to bear the payment processing fees, not the customer, provided that payment is made via the merchant’s quick response code (Merchant QR Code), the charge for which is the lowest compared to other payment methods.

“As for deducting the amount of 100 baisas as a transfer fee, it is only done while transferring money between beneficiaries from one bank to another bank and not for purchases from stores," the CBO added.

In a statement, the CBO said: “The Central Bank has been following with great interest what is being circulated on social media platforms about the withholding of fees for transfers using the Mobile Payment System (MPCSS).”

The Central Bank of Oman notes the necessity of ensuring accuracy of information and obtaining news from reliable and approved sources.