MUSCAT – Online and digital payment activity in Oman rose sharply in the second half of 2024/2025, led by strong growth in instant payments, card transactions and e-commerce, underscoring the country’s accelerating shift toward cashless channels, central bank data showed.
Retail payment systems recorded a 49% jump in transaction volumes to 535.89 million, while transaction values climbed 23% to RO 24.94 billion, reflecting increased use of online and electronic channels across commerce and services.
The Instant Payment System (IPS), a key driver of online transfers, saw transaction volumes surge 78% to 188.5 million, with values rising 71% to RO 5.69 billion. Person-to-person (P2P) payments accounted for the bulk of activity, while person-to-business (P2B) transactions more than doubled, highlighting wider adoption by merchants and service providers.
Card-based digital payments also strengthened. Card payment system volumes increased 39% to 328.03 million transactions, while values rose 26% to RO 4.42 billion, supported by growing e-commerce usage and wider point-of-sale acceptance.
Data from OmanNet channels showed e-commerce’s share continuing to expand alongside POS transactions, reinforcing the shift away from cash and ATM withdrawals toward online spending and digital transfers.
The growth comes even as large-value payments through the RTGS system showed a slight decline in value, indicating that momentum is increasingly concentrated in retail and online payment ecosystems rather than traditional high-value transfers.
The central bank said the performance reflects sustained investment in payment infrastructure and rising consumer and merchant confidence in digital platforms, in line with Oman’s broader push to modernise its financial system and promote a cash-lite economy.
