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Central Bank of Oman appoints FSS to implement e-payment gateway

20 May 2015  |  2973 views  |  0 Source: FSS

FSS Technologies FZE, the middle-east subsidiary of Financial Software & Systems (FSS), a leader in payments technology has been appointed by the Central Bank of Oman (CBO) to implement “OmanNet e-payment Gateway” in Sultanate of Oman.

In addition, Central Bank of Oman is also in the process of replacing their existing Settlement and Dispute Management System with FSS Recon, a PA-DSS certified product.

Speaking about partnering with FSS, Mr. Badar Khalid Ahmed Al Aghbari, Manager- BOD, Central Bank of Oman, said, “Implementing OmanNet payment gateway is yet another initiative by CBO to enhance the payment infrastructure in the country and stimulate growth of e-commerce in government and non-government entities”.

He added “We have appointed FSS as e-payment gateway solution partner for this project, based on their experience in payments systems and operating large internet payment gateway infrastructure in India. Once operational, OmanNet Payment Gateway will process national debit transactions, in a simple, secure and versatile way that will facilitate merchants in the Sultanate of Oman to offer e-commerce services to their clients.”

Commenting on the partnership, Mr. Nagaraj Mylandla, Managing Director, FSS, said, “With our in-depth payments domain knowledge built over two decades, we are well-equipped to become a global leader in payments industry. The awarding of this significant project to FSS by Oman’s Central Bank reposes the faith in our expertise in this domain.”

Today, we have emerged as preferred player in this region providing digital payment gateway, reconciliation, card lifecycle management and PoS solutions in both hosted and licensed models. In the middle-east, 6 out of top 10 banks have already partnered with us and more banks in the region are in active discussions with us. With these emerging opportunities for FSS, I foresee the middle-eastern region playing a significant role in consolidating our position as the preferred global leader in payments.”

FSS Internet Payment Gateway, the first PA-DSS 3.0 certified gateway is an e-commerce payment processing platform, with advanced authentication that enable institutions, processors and merchants to accept and process online and offline payments seamlessly with highest security. With this solution, Central Bank of Oman will be able to process national level transactions and offer e-commerce services to merchants in the country.

FSS Recon is a robust and rich in feature product that is trusted by over 20 banks across the globe and reconciles over 12 billion transactions annually.

FSS has spearheaded the growth of retail & whole sale payments in India by serving banks, financial institutions, merchants, governments and other verticals through a rich portfolio of innovative software products, software services and hosted payment services. The rapidly growing FSS clientele includes over 100 leading global banks, some of the world’s largest processors and retailers.

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