Sohar International has become the official banking partner for Friendi Pay, adding a regulated banking anchor to Oman’s expanding digital payments market as mobile wallets, QR payments and low-cost remittances gain traction among residents and businesses.
The agreement, signed in Muscat, brings together one of Oman’s prominent banking institutions and a licensed payment service provider focused on local transfers, international remittances and app-based financial services. The partnership is designed to support Friendi Pay’s operational framework, strengthen trust in wallet-based transactions and widen access to digital financial services as Oman advances its cashless payment agenda.
Friendi Pay, developed by Beyond ONE and linked to the wider FRiENDi Mobile ecosystem, operates as a Central Bank of Oman-licensed digital wallet. Its services include international money transfers, wallet-to-wallet transfers within Oman, QR-code payments, utility bill payments, wallet top-ups and transaction tracking through a mobile application. The platform targets both citizens and expatriate residents, with remittance corridors covering major labour-sending markets including India, Pakistan, Bangladesh, the Philippines, Egypt and Sri Lanka.
Sohar International’s role as banking partner gives the fintech platform a stronger institutional foundation at a time when regulators and consumers are placing greater emphasis on security, compliance, transparency and transaction reliability. For banks, such alliances provide access to new customer segments that increasingly prefer mobile-first financial tools over branch-based services, particularly for lower-value payments and cross-border family remittances.
The move also reflects a broader shift in Oman’s banking sector, where traditional lenders are expanding beyond conventional deposit and lending products into digital ecosystems. Sohar International has been building its profile through mobile banking, corporate digital services, cross-border financial partnerships and international transfer solutions. The Friendi Pay tie-up extends that strategy into the wallet and remittance space, where speed, pricing and ease of use are becoming decisive competitive factors.
Oman’s digital payments sector is forecast to grow sharply over the second half of this decade, supported by smartphone penetration, e-commerce adoption, regulatory licensing of payment service providers and government-backed digital transformation under Oman Vision 2040. Market estimates place the value of digital payments in Oman at about $9.6 billion in 2025, with projections indicating it could exceed $20 billion by 2029 if current adoption trends continue. Digital money movement, including wallet-based transfers and remittances, is expected to remain a key growth area.
Friendi Pay entered the market with a ready-made customer base through FRiENDi Mobile, which serves more than 750,000 users in Oman. That linkage gives the wallet a direct route to expatriate and value-conscious consumers who frequently transfer money overseas and use mobile services as their primary digital channel. The platform’s multilingual interface and focus on transparent fees are intended to address a market where remittance costs, processing speed and customer support remain central concerns.
Tawfiq Al Lawati, chief executive officer of Friendi Pay Oman, has positioned the platform as a consumer-focused financial service rather than a narrow payments tool, emphasising international transfers, peer-to-peer exchanges and bill payments as part of everyday money management. The company’s stated roadmap includes new local payment solutions and additional remittance corridors, subject to regulatory approvals and operational readiness.
For Oman’s financial system, the development underscores the increasing role of licensed non-bank payment providers operating alongside established banks. The Central Bank of Oman has encouraged a controlled expansion of digital finance through licensing, know-your-customer requirements, payment service provider rules and modernisation of national payment infrastructure. This approach aims to widen financial access while limiting risks linked to fraud, weak compliance and opaque fee structures.
Competition in the sector is also intensifying. Banks, exchange houses, wallet providers and telecom-linked platforms are all seeking a share of the same payments and remittance pool. Customers are likely to benefit from lower friction, wider choice and faster services, but providers will face pressure to maintain strong cybersecurity standards, clear pricing and reliable settlement processes.
The agreement, signed in Muscat, brings together one of Oman’s prominent banking institutions and a licensed payment service provider focused on local transfers, international remittances and app-based financial services. The partnership is designed to support Friendi Pay’s operational framework, strengthen trust in wallet-based transactions and widen access to digital financial services as Oman advances its cashless payment agenda.
Friendi Pay, developed by Beyond ONE and linked to the wider FRiENDi Mobile ecosystem, operates as a Central Bank of Oman-licensed digital wallet. Its services include international money transfers, wallet-to-wallet transfers within Oman, QR-code payments, utility bill payments, wallet top-ups and transaction tracking through a mobile application. The platform targets both citizens and expatriate residents, with remittance corridors covering major labour-sending markets including India, Pakistan, Bangladesh, the Philippines, Egypt and Sri Lanka.
Sohar International’s role as banking partner gives the fintech platform a stronger institutional foundation at a time when regulators and consumers are placing greater emphasis on security, compliance, transparency and transaction reliability. For banks, such alliances provide access to new customer segments that increasingly prefer mobile-first financial tools over branch-based services, particularly for lower-value payments and cross-border family remittances.
The move also reflects a broader shift in Oman’s banking sector, where traditional lenders are expanding beyond conventional deposit and lending products into digital ecosystems. Sohar International has been building its profile through mobile banking, corporate digital services, cross-border financial partnerships and international transfer solutions. The Friendi Pay tie-up extends that strategy into the wallet and remittance space, where speed, pricing and ease of use are becoming decisive competitive factors.
Oman’s digital payments sector is forecast to grow sharply over the second half of this decade, supported by smartphone penetration, e-commerce adoption, regulatory licensing of payment service providers and government-backed digital transformation under Oman Vision 2040. Market estimates place the value of digital payments in Oman at about $9.6 billion in 2025, with projections indicating it could exceed $20 billion by 2029 if current adoption trends continue. Digital money movement, including wallet-based transfers and remittances, is expected to remain a key growth area.
Friendi Pay entered the market with a ready-made customer base through FRiENDi Mobile, which serves more than 750,000 users in Oman. That linkage gives the wallet a direct route to expatriate and value-conscious consumers who frequently transfer money overseas and use mobile services as their primary digital channel. The platform’s multilingual interface and focus on transparent fees are intended to address a market where remittance costs, processing speed and customer support remain central concerns.
Tawfiq Al Lawati, chief executive officer of Friendi Pay Oman, has positioned the platform as a consumer-focused financial service rather than a narrow payments tool, emphasising international transfers, peer-to-peer exchanges and bill payments as part of everyday money management. The company’s stated roadmap includes new local payment solutions and additional remittance corridors, subject to regulatory approvals and operational readiness.
For Oman’s financial system, the development underscores the increasing role of licensed non-bank payment providers operating alongside established banks. The Central Bank of Oman has encouraged a controlled expansion of digital finance through licensing, know-your-customer requirements, payment service provider rules and modernisation of national payment infrastructure. This approach aims to widen financial access while limiting risks linked to fraud, weak compliance and opaque fee structures.
Competition in the sector is also intensifying. Banks, exchange houses, wallet providers and telecom-linked platforms are all seeking a share of the same payments and remittance pool. Customers are likely to benefit from lower friction, wider choice and faster services, but providers will face pressure to maintain strong cybersecurity standards, clear pricing and reliable settlement processes.
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Oman