Muscat: In a move to accelerate business and growth opportunities, OMPay, Oman’s emerging fintech solutions company, signed an MOU with ZUMR. As part of the agreement signed between the two fintech companies, OMPay has agreed to provide its payment gateway and Know Your Client (KYC) solutions for the test run of ZUMR’s app at the Central Bank of Oman’s fintech regulatory Sandbox Programme.
ZUMR is an Omani FinTech startup that deals with smart algorithms for providing a secure and widely accessible platform for traditional saving circles, popularly known as Jamiyat. The aim is to promote healthy saving habits in Omani society through various fintech inclusion methods.
"Our platform aims to promote financial inclusion. Using this platform will enforce transparency, ease of monthly payment, and eliminate confusions that are created due to word-of-mouth or handy cash deposits for the cause.’’ shared by Ms. Shamsa Al Salami, CEO of ZUMR.
‘’We can’t get more customer-centric than this. Our broad range of products are for everyone, and this collaboration with ZUMR enables us to tap into a micromarket, a personal circle of savers who will be able to use OMPay’s payment gateway for making monthly payments with verified account processes generated by our KYC." Comments by Mr. Abdulaziz Al Rawahi, CEO of OMPay
Currently in its testing phase at the Central Bank of Oman’s regulatory sandbox programme, this collaboration will emerge as a breakthrough for all financial barriers and increase transparency in personal dealings.
OMPay offers mobile-based solutions for money transfers, international remittances, and merchant solutions for SME at an affordable cost. The super-easy-to-use UI uses advanced fintech security and verification methods connected with Oman’s highly credible human database.
The app is free to download from Apple, Android, and Huawei stores. Visit www.ompay.com to get the latest version for your phone.
