89% of Oman’s transactions now digital, central bank reports

The latest:

Digital channels handled 89% of all payment transactions in Oman during 2025 and 81% of their total value, according to the Central Bank of Oman’s annual national payment systems report. Cash accounted for the remaining 11% of volume and 19% of value. The bank said the figures exclude cash transactions conducted outside banking and payment service provider channels.

Details:

• The headline split: Digital payments took 89% of transaction numbers and 81% of value across bank and payment provider channels, against 11% and 19% for cash, according to the central bank. The regulator said the gap between the two shares reflects cash still concentrating in larger individual transactions.
• Retail volumes: Retail payment systems recorded 974.19 million transactions in 2025, up 53% year on year, according to the report. Their combined value rose 24% to 47.80 billion Omani rials — volume growth roughly twice the pace of value growth, pointing to smaller average ticket sizes.
• High-value settlement: Transactions cleared through the Real Time Gross Settlement system reached about 269.23 billion Omani rials, a 12% rise on 2024, according to the central bank. The regulator described RTGS as central to settling large-value and priority financial transactions.
• Instant payments: The instant payment system nearly doubled its transaction count to 339.36 million in 2025. Value moved through it climbed from 5.56 billion rials in 2024 to 10.45 billion rials, growth of close to 88%, which the bank attributed to a widening user base.
• New infrastructure: The central bank launched the domestic bank card “Mal” during 2025, which it called one of the most significant milestones in developing national payment infrastructure. The bank did not disclose issuance figures or the number of institutions participating in the scheme.
• Cheques and direct debit: The regulator said it expanded the electronic mandate service for direct debit, framing it as support for the move toward electronic payment instruments and reduced reliance on cheques. It also widened use of the international bank account number, IBAN, to cover domestic transactions.
• Acceptance network: Point-of-sale terminals and smart-device-based SoftPoS solutions together reached roughly 120,000 units by the end of 2025, growth of about 18% over 2024. That expansion determines how far digital acceptance reaches merchants outside major commercial centres.
• Tokenization surge: Transactions based on tokenization technology grew more than 600% during 2025, the report said, the steepest percentage increase it recorded. The central bank did not publish the absolute transaction count behind that figure, which starts from a small 2024 base.
• Regional linkage: The bank said it strengthened integration with regional payment networks during the year, without naming the networks involved or specifying when the connections became operational. It placed the work alongside its broader infrastructure programme for 2025.

Background:

Oman’s central bank publishes an annual report tracking national payment systems, infrastructure upgrades and transaction indicators. The regulator links the programme to Oman Vision 2040, the state’s long-term framework for digital transformation, economic diversification and financial inclusion.

Between the lines:

The central bank assesses that the indicators show sustained adoption of electronic payment instruments and reduced dependence on cash. The internal numbers point the same way: retail transaction counts grew 53% while value rose 24%, and instant payments nearly doubled in volume — a pattern consistent with digital channels absorbing small everyday purchases rather than only large transfers.

What’s next

The next annual payment systems report will show whether the Mal card and the 600% tokenization jump hold up against a larger 2025 base, and whether the terminal network extends beyond roughly 120,000 units.