Real-Time payments gain momentum in Oman

By Vriti Gothi

The Sultanate of Oman is recording significant growth in the adoption of instant payments, as consumers and businesses increasingly shift toward real-time digital transactions. Recent data on the performance of the country’s national payment systems for the second half of 2025 shows a sharp rise in both the volume and value of Instant Payment System (IPS) activity, underscoring the accelerating pace of digitalisation in the financial sector.

Transaction volumes through IPS rose by 78% year-on-year, increasing from 105.9 million in 2024 to 188.5 million in 2025. The total value of these transactions also climbed substantially, growing by 71% from OMR 3.33 billion to OMR 5.69 billion over the same period.

Instant payment systems enable real-time electronic transfers, allowing funds to be credited to a recipient’s account within seconds via mobile banking applications, digital wallets, and other electronic channels. The rapid growth reflects rising consumer confidence in digital financial services and the increasing availability of seamless, always-on payment options.

A key driver of the expansion has been the growth in person-to-business (P2B) transactions. These payments, which allow consumers to pay merchants directly using QR codes or account-to-account transfers, recorded an increase of more than 70% in value. The trend indicates growing acceptance of instant payments for everyday retail purchases and service payments, supporting the country’s broader transition toward a less cash-reliant economy.

Usage patterns across the national electronic payment network, OmanNet, further highlight changing consumer behavior. In 2025, point-of-sale (POS) transactions accounted for the majority of activity at 86.61%, followed by eCommerce transactions at 9.60% and ATM cash withdrawals at 3.43%.

The decline in ATM usage from 5.65% in 2024 to 3.43% in 2025 signals a gradual shift away from cash withdrawals as digital alternatives become more widely adopted. At the same time, the continued dominance of POS transactions reflects the growing use of debit and credit cards, contactless payments, and mobile wallets for in-store purchases.

The expansion of instant payments is strategically important for Oman’s evolving financial ecosystem. Real-time payment infrastructure is increasingly viewed as a foundational layer for digital commerce, enabling faster settlement for merchants, improving cash flow for businesses, and enhancing the overall customer experience. For financial institutions and FinTech providers, the growth also creates opportunities to build value-added services such as real-time lending, request-to-pay solutions, and integrated merchant services.

Oman’s progress mirrors a broader trend across GCC markets, where regulators and financial institutions are investing in modern payment infrastructure to support economic diversification and digital transformation agendas. Faster payment systems are playing a critical role in promoting financial inclusion, supporting small and medium-sized enterprises, and enabling the growth of eCommerce and digital services.

As transaction volumes continue to scale and new use cases emerge, instant payments are expected to become a central component of Oman’s payments landscape. The sustained growth in IPS activity suggests that real-time digital transactions are moving from early adoption to mainstream usage, positioning the country for further innovation across the FinTech value chain.