Egypt’s Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), has received the Central Bank of Oman’s (CBO) Payment Service Provider (PSP) license, making it the first international fintech company to be fully licensed in the Sultanate. Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob is an infrastructure technology enabler providing payment solutions to empower digital financial service providers through mobile wallet technology. The PSP license in Oman authorises Paymob to accept and process online and in-store payments, powered by its local integration with CBO’s secure payment infrastructure, OmanNet. Paymob secured the PSP license upon complying with all the regulatory requirements of CBO’s framework. “It is a proud moment for Paymob to be the first international fintech company to receive PSP licensing in Oman.

Source: The North Africa Journal January 19, 2024 09:01 UTC