The future of money in Oman, and globally, is undergoing a dramatic transformation. Forget lengthy bank visits and cumbersome processes; by 2026, financial transactions will likely be seamless, integrated into our daily routines, and powered by sophisticated technology. This shift, driven by the convergence of digital payments, artificial intelligence (AI), embedded finance, and real-time processing, was a key message delivered by Rajesh Chandiramani, CEO of Comviva, during his recent visit to Muscat. He envisions a new operating system for money, one poised to reshape the financial landscape as we know it.
The Evolving Landscape of Digital Payments
Chandiramani, speaking with Times of Oman, emphasized that the evolution of digital payments is far from over. He highlighted several crucial elements that will define the next phase, including the increasing importance of gamification to boost customer engagement. “Gamification helps keep customers engaged on platforms,” he explained, suggesting that making financial interactions more rewarding and enjoyable will be key to wider adoption.
However, this progress isn’t without its challenges. Proactive risk management and robust cybersecurity are paramount. The interconnected nature of modern finance creates vulnerabilities that malicious actors are eager to exploit.
Rising Cyber Threats and the Need for Security
The threat landscape is constantly evolving. Chandiramani warned that hackers now operate on a global scale, and increasingly sophisticated methods, like malicious apps that silently monitor transactions, are being employed. “Hackers today can operate from anywhere globally. There are malicious apps that can sit on your phone without your knowledge and read transactions,” he stated. This underscores the critical need for advanced digital identification tools and comprehensive security measures to protect both consumers and financial institutions. Stronger authentication and real-time fraud detection will be essential components of this new financial ecosystem.
Comviva’s Role in the MENA Region’s Fintech Growth
Comviva has established a strong foothold in the Middle East and North Africa (MENA) region through strategic partnerships and a deep understanding of local market dynamics. Their approach isn’t about imposing global solutions, but rather tailoring technology to meet the specific needs of each country.
“Comviva’s contribution to the MENA region has been rooted in long-term partnerships and a deep understanding of local market dynamics,” Chandiramani noted. The company collaborates closely with telecom operators and financial institutions to build scalable platforms leveraging AI, analytics, and cloud-native technologies. These platforms support financial inclusion, facilitate digital commerce, and deliver next-generation customer experiences.
Comviva’s offerings – DigiTech, RevTech, MarTech, and FinTech – are designed to unlock new revenue streams and improve accessibility to financial services. They power mobile financial services, enable intelligent marketing, and streamline monetization processes. Currently, Comviva’s digital payments platform processes over US$1 billion in transactions daily, serving more than 500 million customers across 55+ countries.
Global Pay Oman: A Catalyst for Digital Inclusion
A significant example of Comviva’s commitment to the region is their partnership with Global Money Exchange (GME) to launch the Global Pay Oman mobile application. This initiative represents a major step forward for Oman’s fintech ecosystem.
“The launch of Global Pay Oman represents a major milestone in Oman’s fintech ecosystem,” Chandiramani emphasized. The app allows users to make secure payments and manage foreign exchange services directly from their mobile devices, aligning with Oman’s vision of becoming a digital-first economy. He views the launch as more than just a product release, but as a catalyst for broader digital adoption across various sectors. This is particularly important for Oman’s large expatriate population, simplifying cross-border remittances and financial management.
An AI-First Future for Finance
Looking ahead, Comviva is prioritizing an “AI-first” approach to technology development. This means embedding intelligence at the core of all their digital platforms. By combining advanced analytics and generative AI with their extensive domain expertise, they aim to help partners enhance efficiency, generate new revenue, and provide secure, personalized digital experiences.
“By combining advanced analytics and generative AI with deep domain expertise, we help partners improve efficiency, unlock new revenue and deliver secure, personalised digital experiences at scale,” Chandiramani explained. Their Agentic AI platforms are expected to be a key driver of growth in the coming years.
Comviva’s journey began in India, where they initially focused on building a robust platform. They then expanded into Africa, successfully digitally including nearly 400 million people. This experience has informed their strategy in the MENA region and beyond, as they now set their sights on Europe and the Americas.
Fueling Fintech Growth in the MENA Region
The MENA region is experiencing rapid growth in its fintech sector, driven by a young, digitally-savvy population, supportive regulatory frameworks, and ambitious national visions focused on financial inclusion and digital economies. This creates a fertile ground for innovation in areas like payments, remittances, lending, and savings.
Chandiramani believes that Comviva is well-positioned to play a critical role as a technology enabler for banks, payment service providers, and mobile money operators in this dynamic environment. Their continued investment in innovation and ecosystem collaboration ensures that digital transformation across the region remains sustainable and inclusive.
In conclusion, the future of money is undeniably digital, and Comviva is actively shaping that future in Oman and across the MENA region. The convergence of digital payments, AI, and embedded finance promises a more convenient, secure, and inclusive financial system. As Chandiramani highlighted, strategic partnerships and a commitment to understanding local market needs will be crucial for realizing this vision. To learn more about Comviva’s solutions and their impact on the fintech landscape, visit their website and explore the possibilities of a truly digital financial future.
