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Zumr & OMPay team to boost saving opportunities for customers

By Delisha Fernandes

July 27, 2023

  • Central Bank of Oman
  • Know Your Client
  • Merchant
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OMPay OMPay, an Oman-based FinTech solutions company, signed an MOU with Zumr to accelerate business and growth opportunities.

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 Zumr app test run at the Central Bank of Oman’s FinTech regulatory sandbox program.

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.

“We can’t get more customer-centric than this. Our broad range of products is for everyone, and this collaboration with Zumr enables us to tap into a micro market, 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,” said Abdulaziz Al Rawahi, CEO of OMPay.

In its testing phase at the Central Bank of Oman’s regulatory sandbox program, this collaboration will emerge as a breakthrough for all financial barriers and increase transparency in personal dealings.

“Our platform aims to promote financial inclusion. Using this platform will enforce transparency, ease of monthly payment, and eliminate confusion created due to word-of-mouth or handy cash deposits for the cause,” said Shamsa Al Salami, CEO of Zumr.

OMPay offers mobile-based solutions for money transfers, international remittances, and merchant solutions for SMEs 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.

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