Money

CBO Approves ONEIC's PSP License

Customers can view and pay their telecom, water, and power utility bills with ONEIC Bill & Pay.

By Inc.Arabia Staff
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The Central Bank of Oman (CBO) has granted Oman National Engineering & Investment Company (ONEIC) a final license to conduct business as a payment service provider (PSP) in the Sultanate.[1]

Securing this license is in line with ONEIC’s strategic objective of expanding its company, especially into the e-commerce and electronic payments sectors.

‘In the upcoming stage, the company will aim to consolidate all its payment services through its electronic wallet. The license will be instrumental in this endeavor, and the company plans to expand into other related services,’ ONIEC said in its disclosure submitted to the Muscat Stock Exchange.

Customers can view and pay their telecom, water, and power utility bills with ONEIC Bill & Pay. They can use it to top off prepaid accounts, pay traffic fines, and make court payments.

Launched in 1978, ONEIC was established to manage the Rural Electricity System for the Ministry of Electricity and Water.

ONEIC repositioned itself in a competitive, diversified global market with extensive knowledge spanning over 40 years, as well as diffusing presence across over 95+ locations throughout the Sultanate.

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