Oman has taken a major step toward building a unified, low-cost national payments ecosystem with the Central Bank of Oman’s newly approved fee structure for the “Maal” consumer debit and prepaid card. The framework eliminates key fees for users and service providers, lowers acceptance costs for merchants, and prepares the ground for a nationwide rollout following the card’s pilot launch on November 20, coinciding with National Day.The “Maal” card is Oman’s national consumer payment card introduced by the Central Bank of Oman to support a uniform, domestically managed digital payments system. It is issued in both debit and prepaid forms and is designed to offer individuals a secure, low-cost way to make electronic payments within the Sultanate. The card is provided without any issuance, reissuance, or annual fees, making it a zero-cost option for users. Operated through the OmanNet network, the “Maal” card enables payments across ATMs, point-of-sale terminals, and e-commerce platforms, and forms a key component of the country’s long-term strategy to localize and strengthen national payment infrastructure.
A national card designed to reduce costs and expand inclusivity
The Central Bank of Oman (CBO) has finalized the fee framework that governs the “Maal” debit and prepaid card as part of its broader plan to build an efficient, nationally operated payments ecosystem. By removing financial barriers and streamlining digital payment access, the initiative supports individuals, merchants, government entities, and financial service providers.Consumers will receive the card with no fees for issuance, reissuance, or annual maintenance, ensuring that both debit and prepaid versions remain cost-free. Existing CBO regulations will continue to determine fees for ATM cash withdrawals and related services.This structure supports CBO’s mission to give residents a secure, low-cost digital payment tool that can be used easily within Oman, while also expanding financial inclusion across the country.
Lower costs for merchants and banks
A major component of the framework targets cost reduction across the payment value chain. During the early rollout, banks and payment service providers will not be charged for using the OmanNet infrastructure to issue or process “Maal” card transactions. This temporary exemption eases onboarding and motivates early adoption.The pricing model introduces capped Merchant Service Fees (MSF) for POS and e-commerce payments made with “Maal”. These caps are designed to be significantly more affordable than those applied to other cards, cutting the acceptance cost for merchants by up to 50%.CBO has also introduced differentiated caps and fee structures to ensure fairness and accessibility across sectors:
- Lower caps for government entities
- Fixed-fee model for money exchange and remittance companies
- Preferential pricing for SME owners holding the “Riyada” card
- Full fee exemption for charitable organizations when accepting zakat, sadaqat, and donations
These tailored measures ensure widespread access to digital payment solutions and encourage adoption in all parts of the economy.
Supporting digital growth
The “Maal” fee structure advances CBO’s strategy to strengthen the national payments ecosystem through the OmanNet network and reduce dependency on international schemes. By lowering costs and improving accessibility, the initiative is expected to increase electronic payment adoption, stimulate e-commerce growth, reduce financial burdens on consumers and merchants, and support a transition toward a less cash-dependent society.These outcomes align with Oman Vision 2040, which prioritizes the development of an inclusive, innovative, and sustainable digital economy.The fee framework accompanies the pilot launch of the “Maal” card on November 20, coinciding with Oman’s National Day celebrations. Participating banks will soon begin issuing the card, with broader distribution expanding in stages.During the soft-launch period:
- A majority of ATMs and e-commerce payment gateways will already be able to process “Maal” transactions.
- Some customers may encounter POS terminals not yet upgraded, as banks continue to update their devices in phases.
- The initial rollout focuses on high-traffic POS terminals and locations with strong transaction volumes to ensure stable adoption.
This phased approach ensures that acceptance grows steadily and efficiently across the Sultanate.
