News

Paymob Secures PSP License From Oman’s Central Bank

The payment service provider license is the first to be issued by the CBO to an international fintech provider.

Published

3 years ago

January 16, 2024

Nour Nasir

Paymob

Paymob, a prominent MENAP (Middle East, North Africa, and Pakistan) financial services provider, has announced its acquisition of a Payment Service Provider (PSP) license from the Central Bank of Oman (CBO). The groundbreaking achievement marks a significant milestone for the fintech firm, as it becomes the first international company to obtain full licensing within the Sultanate.

With the newly issued PSP license, Paymob gains official authorization to accept and manage both online and in-store payments within Oman. This functionality is made possible through a seamless integration with OmanNet, the CBO’s secure payment infrastructure.

Now, Oman-based merchants will be able to facilitate payments locally and across borders via Paymob’s gateway, streamlining the cumbersome process of multiple integrations.

Islam Shawky, co-founder and CEO of Paymob, explained the significance of the new license: “It is a proud moment for Paymob to be the first international fintech company to receive PSP licensing in Oman. We appreciate the vote of confidence that CBO has placed in our technology. We are committed to enabling SME growth in Oman by making cutting-edge payment solutions accessible to all merchants and processing transactions seamlessly and securely through our local gateway”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Oman has been steadily advancing towards the digital transformation of its banking sector, driven by the Vision 2040 initiative aimed at economic diversification. The data from 2018 to 2022 reveals a remarkable surge in ATM, POS, and e-commerce transactions processed through OmanNet, with a staggering 300% increase from 82.4 million to 252.9 million transactions.

Paymob’s attainment of the Central Bank of Oman’s PSP license signifies a remarkable stride for the company and the fintech landscape as a whole, promising substantial benefits for Oman’s digital payments ecosystem and further strengthening Paymob’s position as a leading player in the MENAP region.

News

Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

Published

5 days ago

August 1, 2026

Nour Nasir

syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI

The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.