
Google Pay - a contactless payment option for Oman's Android users
While making an announcement, the company said Google Pay allows people to pay and make secure purchases in stores (where contactless payments are accepted), in apps, and on the web.
Cardholders will also be able to store credit or debit cards for Google Pay within Google Wallet, a digital wallet.
Cardholders can make safer payments with multiple layers of security for transactions by using a virtual card number (a token), device-specific, that is associated with a dynamic security code that changes with each transaction.
In Oman, Users can utilize Google Pay to make purchases through websites and mobile applications that support the service. However, features like sending money to friends or paying for services are not supported in Oman.
For now, only Sohar International Bank has enabled Google Pay for customers, allowing them to make contactless payments using their Android phones. This service is available for international debit, credit, and prepaid cardholders. To use Google Pay, customers need to add their card to the Google Wallet app.
Last year, with the launch of the Apple Pay service, the Sultanate of Oman joined the rest of the GCC markets that enable people to make online and offline payments via mobile devices.
Unlike Samsung Pay, Google Pay will be available for all Android mobile users with versions Android 9 or higher.
Mohammed bin Saif al Manji of TechOneFive, an initiative group promoting awareness of new technologies, stated, "Digital payments in Oman are gaining remarkable momentum, driven by the Central Bank of Oman (CBO)'s proactive efforts to promote a cashless society through initiatives such as mobile wallets, QR code payments, and robust card tokenization frameworks. The launch of Samsung Pay in April 2024 and Apple Pay in September 2024 marked key milestones in this journey. The recent support for Google Pay adds another secure and convenient option for users across the Sultanate. These platforms empower consumers to make contactless payments seamlessly using their smartphones and smartwatches. Many Omani banks have integrated these solutions, enabling customers to link their debit and credit cards effortlessly. This aligns directly with Oman Vision 2040, which emphasizes digital transformation and sustainable economic modernization.'
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
17 minutes ago
- Zawya
Saudi ACWA Power Q2 2025 profit falls 24% on higher finance costs
ACWA Power, the Saudi-listed developer and operator of power, water and green hydrogen projects, said second-quarter 2025 net profit fell 24% year-on-year (YoY) to 481.8 million Saudi riyals ($128.44 million) on higher finance costs and impairment losses. Revenue rose 12% to SAR1.7 billion in the second quarter compared to SAR1.6 billion a year earlier, driven primarily by the sale of electricity. However, net profit for the first half of 2025 declined 2% to SAR 909 million, from SAR 926.8 million in the same period last year. Revenue for the period surged 32% to SAR 3.7 billion, as electricity sales grew. Impairment losses reached SAR 297 million in the first six months compared to SAR 146 million a year earlier. Financing costs increased by 21% annually to SAR905 million. (Editing by Brinda Darasha;


Zawya
an hour ago
- Zawya
Oman's OQ Group secures first-ever S&P ‘BBB-' rating
MUSCAT: International ratings agency S&P Global Ratings has assigned a 'BBB-' global scale issuer credit rating and a 'gcAA-' Gulf Cooperation Council (GCC) regional scale rating to OQ SAOC, the wholly government-owned integrated energy group operating under the umbrella of Oman Investment Authority (OIA). This marks the first time OQ Group has received a public rating from S&P. Commenting on the announcement in a post on Thursday, July 31, 2025, the Group stated that the rating affirms 'OQ's position as a national energy leader committed to long-term resilience and value creation.' 'The assessment highlights OQ's strong liquidity position, disciplined capital structure, and key role in supporting Oman's economic diversification and energy transition under Vision 2040,' the company added. S&P said its assessment of OQ's business risk profile reflects its vertically integrated operations across the hydrocarbon value chain, with efforts to diversify and enhance its asset base. In 2024, upstream accounted for 60% of reported EBITDA, downstream 37%, and other segments—including alternative energy, marketing, manufacturing, and corporate functions—3%. The agency noted that most of OQ's assets are located within Oman (rated BBB-/Stable/A-3), benefiting from the country's robust energy infrastructure. This provides feedstock security, particularly for its refining and petrochemical operations. A well-established trading arm supports both upstream and downstream segments by off-taking production and sourcing feedstock, enhancing operational flexibility. OQ's downstream capacity was significantly boosted following the final completion of the 230,000-barrel-per-day Duqm (OQ8) refinery in April 2025. Developed as a 50:50 joint venture with Kuwait Petroleum (Europe), the refinery represents a major strategic milestone for the group. S&P further highlighted OQ's government-backed mandate to promote economic diversification and investment in Oman. Through its subsidiary, OQ Alternative Energy, the company is investing in renewable energy projects, many of which are expected to be developed in partnership with private players, with OQ retaining up to 50% ownership. Final investment decisions on several of these initiatives are expected in 2025 and 2026. Since 2021, OQ has significantly improved its balance sheet, reducing gross debt by over 45%—from RO 5.3 billion to RO 2.9 billion by end-2024. This deleveraging, supported by strong operating cash flows and nearly RO 2 billion in IPO and divestment proceeds over 2022–2024, underpins its robust credit profile, even amid expectations of a weaker market in 2025–2026. S&P expects funds from operations (FFO) to debt to remain solid at 50%–53% in 2025 and 54%–57% in 2026. Despite planned capital expenditure of RO 700–800 million annually in 2025 and 2026, including investments in maintenance and alternative energy projects, OQ is projected to generate positive free operating cash flow (FOCF) of RO 125–175 million in 2025 and RO 150–200 million in 2026. This is supported by its strong liquidity, including RO 3 billion in cash and cash equivalents, largely placed in interest-bearing short-term deposits, the agency noted. OQ maintains a conservative financial policy, targeting net debt to EBITDA of 2.0x–2.5x and keeping Funds from Operations (FFO) to debt above 55%. Annual dividends are set at RO 289 million, with additional payouts dependent on divestment proceeds. Distributions from 2026 onward are expected to remain balanced with performance, leverage, and investment priorities, S&P added. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (


Zawya
an hour ago
- Zawya
Saudi budget deficit shrinks to $9.21bln as oil, other revenues rise
Saudi Arabia's budget deficit narrowed to 34.534 billion riyals ($9.21 billion) in the second quarter, marking a 41.1% decline from the previous quarter, as oil and other revenues rose, the finance ministry said on Thursday. Oil income rose by 1.28% to reach 151.734 billion riyals, the ministry said. The world's top oil exporter saw its total revenues climb by nearly 14.4% to 301.595 billion riyals in April to June, of which 149.861 billion riyals came from non-oil industries, while public spending, rose 4.28% quarter-on-quarter to 336.129 billion riyals. The kingdom's oil exports in May rose to their highest in three months, data from the Joint Organizations Data Initiative (JODI) showed, as the OPEC+ group - comprising OPEC and allies such as Russia - began to unwind cuts of 2.17 million barrels per day (bpd) in April with a boost of 138,000 bpd, followed by further increases in recent months despite falling oil prices. In the first quarter, the kingdom's budget deficit widened significantly on a year-on-year basis to $15.65 billion from $3.30 billion in the same period a year earlier, as oil revenues dropped 18%. Lower oil prices have weighed on Saudi Arabia's revenue, with the kingdom projected to post a fiscal deficit of around $27 billion this year. Still, the country has pushed forward with spending on a massive economic transformation programme known as Vision 2030 that aims to diversify its revenue sources to wean its economy off its dependence on oil. A 12-day air war between Israel and Iran in June amplified geopolitical risk across the Gulf and raised concerns over regional stability that might threaten to slow foreign investments and tourism in the kingdom, though it briefly spiked oil prices by up to 7% on June 14 when the war first broke. In June, the International Monetary Fund raised its 2025 GDP growth forecast for Saudi Arabia to 3.5% from 3%, partly on the back of demand for government-led projects and supported by the OPEC+ group's plan to phase out oil production cuts. Saudi Arabia's public debt stood at 1.38 trillion riyals by the end of the second quarter, the finance ministry said in its statement. ($1 = 3.7511 riyals) (Reporting by Yomna Ehab and Enas Alashray in Cairo, writiny by Nayera Abdallah and Yomna Ehab; Editing by Andrew Cawthorne and Susan Fenton)