Over the past eight years, the average annual increase in the volume and value of transactions routed through the RTGS has been -2.95% and 51.45%, respectively. In terms of the Retail Payment Systems, both the volumes and values in ACH, MPCSS and OmanNet have shown a steady growth rate, reflecting consumers' preference for various electronic payment methods. Conversely, the volumes and values for ECC have been consistently decreasing.
Statistical analysis has shown that the average annual increase in volume and value for ACH was 513.44% and 373.68%, respectively. For MPCSS, over the past five years, the average annual increase in volume and value has marked a significant increase, reflecting the financial activities carried out in the system. In contrast, ECC has experienced a continuous decline, with average annual decreases in volume and value of -19.66% and -38.34%, respectively. As for OmanNet, over the past eight years, the average annual increase in volume and value has been 631.31% and 107.17%, respectively.
1. Large-Value Payment System:
a. RTGS (Real Time Gross Settlement)
2. Retail Payment Systems:
a. ACH (Automated Clearing House)
Salaries Processed Through National Payment System:
b. MPCSS (Mobile Payment Clearing & Switching System)
Different Methods of MPCSS Transactions:
c. ECC (Electronic Clearing Cheque)
Bounce Cheques
The cheques that have been returned due to different reasons, which are specified below.
d. Card Payment System "OmanNet"
Volumes of OmanNet Channels (ATM, POS, E-commerce)