Paymob lands PSP licence from Oman’s central bank
Middle East, North Africa and Pakistan (MENAP)-based fintech Paymob has been licenced as a Payment Service Provider (PSP) by the Central Bank of Oman.
Paymob’s founders
Paymob claims that securing the licence makes it the first international fintech company to be fully licenced in Oman, following its compliance with all the regulatory requirements stipulated in the central bank’s framework.
With the licence in hand, Paymob can now accept and process online and in-store payments in the country, powered by its local integration with the central bank’s payment infrastructure, OmanNet.
By utilising Paymob’s gateway, Oman-based merchants will be able to accept local and cross-border payments, “eliminating the need for multiple gateway integrations”, Paymob says.
Founded in 2015, Paymob claims to be the largest payment facilitator in the MENAP region. It launched operations in Pakistan in 2021, UAE in 2022 and Saudi Arabia in 2023. Its gateway offers 40 payment methods, serving more than 250,000 merchants and employing 1,400 people in the region.
The company has received backing from the likes of PayPal Ventures, Kora Capital, Clay Point Capital, Global Ventures, FMO, A15, British International Investment and more.
