01
Function and system connection determine the permission
CBO payment services include account and e-wallet issuance, cards and prepaid cards, domestic and cross-border transfers and other approved services. Payment aggregation, POS acquiring and gateway activity may fall within ancillary services registered through a licensed bank or PSP with indirect connection only. Direct connection or a CBO risk threshold may move the business into the licensing perimeter. Merchant acquiring, holding customer funds and pure technology are assessed separately; commercial registration is not regulatory authorisation.
02
Categories 1–3 differ by services, connection and capital
Category 1 covers e-wallets, aggregation/POS acquiring and gateways with indirect connection through a licensed bank; base capital is OMR 100,000. Category 2 adds domestic money transfer and may connect indirectly or directly to selected systems; capital is OMR 200,000. Category 3 adds card and prepaid issuance and cross-border remittance with direct connection according to the model; capital is OMR 500,000. CBO may impose more for multiple-system connections.
Category 1 covers e-wallets, aggregation/POS acquiring and gateways with indirect connection through a licensed bank; base capital is OMR 100,000. Category 2 adds domestic money transfer and may connect indirectly or directly to selected systems; capital is OMR 200,000. Category 3 adds card and prepaid issuance and cross-border remittance with direct connection according to the model; capital is OMR 500,000. CBO may impose more for multiple-system connections.
03
The licensee is an Omani legal person with transparent ownership
The published policy permits an LLC or a public or closed joint-stock company. Omani or foreign natural or legal persons may own up to 100%, but owners, board and senior management undergo fit-and-proper and source-of-capital review. A security deposit equal to 5% of base capital, capped at OMR 100,000, accompanies capital. Group, UBO, funding, governance, authority and control changes are resolved before filing.
04
The application moves from pre-application to in-principle and final authorisation
The model, category and integration are first discussed with CBO's Innovation Department. The file covers the business plan, forecasts, owners and management, fit and proper, products, customer segments, funds flow, safeguarding, technology and controls. CBO may seek additions or reject an incomplete filing within 60 days. In-principle conditions and technical integrations follow; business starts only after the final licence and confirmed go-live date.
05
Capital does not replace Omanisation, IT or operating readiness
The policy requires Omani employees to be at least 50% of total staff. The project needs a local team, IT infrastructure, information-security policy, governance, separation of business and control functions, risk, compliance, anti-fraud, continuity, disaster recovery and prior approval for outsourcing. The stated model must operate in testing and satisfy the rules of each national payment system it will use.
06
Customer funds, AML/CFT and merchant onboarding are designed before launch
Customer money follows the CBO custody-account framework and is not mixed with the provider's own funds. The AML/CFT file includes risk assessment, CDD/EDD, UBO, PEP and sanctions screening, transaction monitoring, suspicious reporting, records and training. An aggregator or gateway collects at least identity, commercial registration, licence, address, an Omani bank account, anticipated monthly volume and all activities for each merchant.
07
Open banking and exchange houses sit in adjacent but separate regimes
AISP and PISP are governed by the Open Banking Framework and should not be assumed into a PSP filing. The published base capital for a standalone open-banking provider is OMR 100,000; existing Category 1 or 2 PSPs add OMR 100,000, while the framework table requires no extra capital for Category 3. Money changing and exchange-house remittance follow their own perimeter. An application label does not transfer one permission to another function.
08
Reporting, audit and supervision continue after licensing
The licensee maintains capital and deposit, keeps IFRS records, arranges external audit and provides audited financial statements to CBO within two months after year-end unless otherwise directed. CBO may inspect, request information and enforce non-compliance. The application fee is OMR 500; the annual licence fee is OMR 1,000 and the published policy waives it for the first three calendar years of operation.
FAQ
FAQ
Can a payment gateway operate without a PSP licence?
An ancillary gateway or aggregator may register through a licensed bank or PSP with indirect connection and other conditions. Direct connection, additional functions or a risk threshold may require a PSP licence.
Which category covers international remittance?
The published CBO table places cross-border money transfer in Category 3. An exchange-house or agency model still requires separate analysis of the actual funds flow.
Can a foreigner own 100% of the PSP?
The policy permits up to 100% foreign ownership, but fit and proper, source of capital, company form, Omanisation and CBO approval still apply.
Does in-principle approval guarantee launch?
No. Conditions and integration must be completed and final authorisation with go-live obtained; banks and partners also conduct separate onboarding.
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