Beyond ONE Launches FRiENDi Pay to Boost Digital Payments in Oman
Beyond ONE, a digital services provider, has officially launched FRiENDi Pay in Oman, introducing a new mobile wallet and digital payment solution aimed at enhancing financial inclusion and convenience in the Sultanate. This marks a significant step in expanding access to digital financial services within the region.
Key Details
The launch sees Beyond ONE, which operates the FRiENDi Mobile brand in Oman, entering the fintech landscape with FRiENDi Pay. The service is positioned as a user-friendly mobile wallet designed to facilitate everyday financial transactions directly from a smartphone. It offers features such as sending and receiving money domestically, making payments at various merchants, and managing funds digitally.
Features and Target Audience
FRiENDi Pay is targeting a broad spectrum of users in Oman, including residents, expatriates, and digital-savvy individuals looking for convenient payment methods. Key features highlighted include:
Easy account setup and management via a mobile app
Secure peer-to-peer money transfers within Oman
Payments for goods and services at participating merchants
Bill payments and potentially mobile top-ups
Emphasis on accessibility and ease of use for users across different tech literacy levels
The service aims to cater to the growing demand for digital financial solutions in the Omani market, supporting both individual users and businesses.
Implications for Oman's Fintech Landscape
The introduction of FRiENDi Pay is expected to contribute to the growth of Oman's burgeoning fintech ecosystem. By providing a new, accessible digital payment platform, it can help accelerate the shift away from cash-based transactions, aligning with national digital transformation goals. For startups and SMEs, the increased adoption of digital wallets like FRiENDi Pay could open up new avenues for payment collection and business operations. The competitive landscape in Oman's digital payments sector is also set to intensify with this new entrant.
About Beyond ONE
Beyond ONE is a digital services company operating across multiple markets. It focuses on providing innovative mobile connectivity and digital services, including telecommunications, entertainment, and increasingly, financial services through initiatives like FRiENDi Pay. The company aims to serve the digital needs of diverse communities, leveraging technology to offer accessible and value-driven solutions. Their presence through brands like FRiENDi Mobile provides a strong base for launching new digital products in markets like Oman.
Looking Ahead
The launch of FRiENDi Pay signifies Beyond ONE's commitment to expanding its digital ecosystem in the MENA region. Future developments could include partnerships with more merchants, integration of additional financial services, and potential expansion into other markets where Beyond ONE operates. The success of FRiENDi Pay in Oman will likely serve as a blueprint for further fintech initiatives by the company in the region.
Source: fintechnews.ae