Oman Arab Bank has completed its Visa tokenisation implementation in partnership with BPC, marking a decade-long collaboration focused on modernising the bank’s card payment infrastructure. The rollout enhances security for OAB’s issuing and acquiring operations across Oman by replacing sensitive card data with encrypted tokens during transactions.
The tokenisation deployment comes as financial institutions across the Middle East accelerate digital payment security measures amid rising fraud concerns. OAB customers can now make mobile and online payments with reduced risk of card data breaches, as actual card numbers are never transmitted during purchases. The bank’s acquiring business also benefits from enhanced compliance and reduced liability exposure.
The upgrade positions OAB competitively as Oman’s digital payment volumes continue expanding, particularly in e-commerce and contactless transactions. BPC’s platform integration maintains the bank’s technical infrastructure while adding contemporary security layers required by Visa’s standards.
FXnCO Insight
Regional banks without tokenisation capabilities face mounting competitive pressure as security-conscious merchants and consumers increasingly favor institutions offering advanced payment protection.
Source: Finextra