The National Bank of Oman (NBO) has introduced its Direct Debit E-Mandate, a secure and efficient digital solution designed to streamline recurring payments for both businesses and individuals.
Developed in line with the Central Bank of Oman’s (CBO) digital payment initiatives, this innovative service offers customers enhanced flexibility and seamless control over their recurring payments through an intuitive and user-friendly digital platform.
Mohammed Yahya Al Jabri, Assistant General Manager – Head of Global Transaction Banking at NBO, commented that, “The launch of the Direct Debit E-Mandate represents a major advancement in Oman’s financial ecosystem. By offering businesses and individuals a reliable digital solution to manage payments, we are driving efficiency, reducing administrative burdens, and improving user convenience.”
From his end, Dr. Ali Al Shekaili, Assistant General Manager – Head of Digital & E-Channels at NBO, noted that, “This initiative aligns with our commitment to digital innovation. Customers can now create and manage their payment mandates securely and effortlessly through our digital banking platforms, reinforcing NBO’s position as a leader in financial technology.”
NBO’s Direct Debit E-Mandate Solution
The Direct Debit E-Mandate enables customers to schedule regular payments, eliminating the need for manual processing or cheque-based transactions. Available through NBO’s Corporate Internet Banking (for Businesses) and the NBO App (for Individuals), this service allows seamless and scheduled payments, improving efficiency and reliability.
Furthermore, the Direct Debit E-Mandate offers secure digital approval, allowing customers to create, approve, modify, or cancel mandates through NBO’s digital banking platforms. Payments are processed automatically, allowing seamless and scheduled payments without the need for manual follow-ups.
According to the statement, users are promptly notified of mandate creation, modifications, and payments, ensuring transparency and control over their financial activities. The service supports various payment frequencies, including daily, weekly, monthly, and yearly transactions, making it suitable for loan repayments, subscription services, utility bills, and business transactions. Customers also have the flexibility to modify or revoke their mandates digitally at any time, ensuring full control over their financial commitments.
