Oman Arab Bank (OAB) signed an MoU with Majan University College (MUC) for the implementation of an e-Payment Gateway System. The new gateway will facilitate the introduction of online payments via the college’s website and mobile app. It will also see the introduction of new payment kiosks at the college premises.
In addition, the University College signed with OAB for an easy payment plan agreement which allows OAB credit card holders to avail a 0% interest installment plan for up to 12 months. This offer will be available for undergraduate students on specified days during the registration period every semester.
Both MoU’s were signed at the OAB headquarters in Ghubra. Representing MUC at the event was Dr. Maha Kobeil, Dean of Majan University College, Rashid Amir Mohamed Al Musalhi, the Vice Chairman of the Board of Directors, and Amr Ebeid, the Financial Controller of Majan University College, while OAB was represented by Fahd Amjad, GM of the Retail Banking Group. Also in attendance were members of senior management and staff from the Bank and the College.
Growth in E-payment Systems
Commenting on the signing of the MoU, Fahd Amjad, said, “This partnership with Majan University College marks yet another milestone in the growth of our e-payment gateway business. The signing of this agreement is also in line with our objective of establishing synergies and partnerships that will advance the country’s shift towards a completely digital future – a key pillar of our operational strategy.”
About OAB E-payment Gateway
The OAB e-payment gateway has been developed with the very latest technology and to the highest standards of security. This is to ensure its conformity with the demands of both local and global regulators and security control standards, including the Payment Card Industry Data Security Standard (PCI DSS).
It has been designed to help streamline payments made to merchants, allowing them to benefit from reduced administrative costs and time to follow up and collect recurring payments from customers. This in turn guarantees a consistent cash flow.
“We are glad to have partnered with OAB for the implementation of their established e-payment gateway at our college. Their gateway has a proven track record of reliability and speed that, when coupled with the introduction of the new payment kiosks and the gateway’s direct integration into our website and mobile app, will provide added convenience for our customers. It will also ensure that the entire process is much faster and more cost efficient for us,” added Dr. Maha Kobeil.
“We are quickly establishing ourselves as a key player within the education sector with our e-payment gateway having already been implemented at Buraimi College and Sohar University. We have also signed an MoU for the implementation of our gateway at the Ministry of Education, which is expected to go live soon,” said Fahd Amjad.
Sushmita, Assistant Editor – BusinessLiveME, enjoys writing about a variety of topics, including but not limited to, energy, video games, infrastructure, cyber security, feminism and gender, and popular culture. Apart from her content-related duties, Sushmita is adept at making to-do lists.