Oman-based Bank Nizwa has announced the launch of its new eco-friendly debit cards in the Sultanate for corporate and SMEs customers and users. Following this announcement, the newly launched products are set to cater to the specific needs, preferences, and demands of corporate, as well as small and medium-sized enterprise clients.

The debit cards were designed to provide customers with a convenient, safe, and efficient solution for their business transactions and payments. The cards have access to company accounts, and smart, customisable services, in addition to a high level of transparency in operations. Furthermore, the launch is aimed at making payments more seamless, while reducing the process of making payments using cash.

Cardholders will be given several benefits, including deposits, secure and contactless payments at Point-of-Sale (POS) machines, withdrawals, as well as ecommerce platforms and accessibility across a vast network. This includes services such as OmanNet, GCCNet, and Mastercard-International. The cards will firmly adhere to Islamic banking principles, remaining compliant with the requirements and laws of the market.

In addition, the corporate debit cards are set to allow for personalised transaction limits, as well as the flexibility to enable and disable specific services. The products were developed to focus on convenience and safety, offering clients the possibility to use the Bank Nizwa application in order to activate the card, change the PIN, or reset it. Moreover, the cards will be able to be customised to showcase the firm’s brand.

The companies will be able to control and monitor their expenses in an improved way and gain real-time insights into their accounts as well. As accurate and transparent expense management represents an important factor in the development process of SMEs and corporates, the new cards are set to also focus on reducing the possibilities of errors and online fraud. The welcoming kit of the cards is made out of seed paper, incorporating end-to-end sustainability in their design.

Bank Nizwa’s strategy of development Bank Nizwa provides its customers and clients with a suite of debit card options, in order to ensure they can access their accounts whenever and from any place they need to. The financial institution announced its partnership with Buna, a cross-border payment system that is owned by the Arab Monetary Fund. The strategic deal was set to enable Bank Nizwa to offer its users with seamless payment methods in both Arab and international currencies, within a secure, risk-controlled, and transparent environment.

The collaboration aimed to strengthen the efforts of the enterprises to develop and transform cross-border payments and to contribute to the overall economic advancement in the Arab world. Moreover, the institutions planned to provide a seamless cross-border payments experience in the region, with tangible benefits being brought to banks and their customers. .