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Bank Sohar utilises point of sale terminal from OMA Emirates

Bank Sohar utilises point of sale terminal from OMA Emirates

Banking & FinanceCase StudiesOmanRegional News

OMA Emirates Group, a provider of technology for the payment industry, has announced the supply of the Point of Sales (POS) solution that they will provide to Bank Sohar in the Sultanate of Oman. The deployment of the industry leading payment terminal from Ingenico provides the Bank with multiple benefits including a boost to customer experiences and a strong platform through which it can introduce value added services in a highly secure transaction system.

Bank Sohar is committed to investing in IT systems that will increase customer satisfaction by ensuring they have the right tools in place to maintain high customer service levels. The latest POS terminal that will be provided to Bank Sohar is capable of reading smart cards that are either Magnetic Stripe or EMV Cards (Visa).

The technology applications are capable of providing additional services that can increase revenue streams by allowing the Bank to provide multiple services on a single device. These include loyalty programs, mobile prepaid, installment and loan options, as well as being able to avail of dynamic currency conversion services.

“OMA Emirates Group is focused on providing the most advanced technology solutions to our customers. While we are working closely with Bank Sohar to have the latest Ingenico terminal, we are in a strong position to support the hardware with our in-house software solutions. These solutions are developed to ensure that we can customise them to meet the Bank’s current needs, as well as be in a position to help them scale for future requirements,” said Niranj Sangal, Group CEO, OMA Emirates Group.

“As a customer service oriented bank that looks at addressing every sector of the economy, it is important for Bank Sohar to have the latest IT systems to provide customers with the most technologically advanced terminals. The entire POS solution provided by OMA Emirates will not only help us enhance our customer experience, but we are certain that solution applications will also help us in strengthening our business streams. With a strong foothold within the Sultanate of Oman, we are confident of OMA Emirates Group’s services and valuable input,” said Mustafa Ali Mukhtar, DGM & Acting Head Wholesale Banking, Bank Sohar.

“Since 2011 we have been building experience in the financial industry, especially in Oman where, apart from EMV Solutions, OMA is also focusing on POS Acquiring with many successful implementations already in the Sultanate. With this major accomplishment and signing a deal with Bank Sohar, OMA is dominating about 75% of the market share in Oman,” said Asim Shah, General Manager – Oman region, OMA Emirates.

The new Ingenico system that is based on a multi communication protocol, provides the use of counter top as well as mobile applications of the terminals. The pocket sized portable terminals will provide the broadest connectivity with rich multi-media capabilities to accept any payment methods. The system is built on an open ended solution which is highly flexible and scalable and will enable Bank Sohar to add, upgrade, change, or even cross over to newer systems with ease.

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