Niranj Sangal

As a leading industry player, what are the unique payment solutions that OMA Emirates provides its clients?

OMA Emirates is a technology-centric company, committed to providing solutions in the area of BFSI and digital banking. We provide services designed to deliver a seamless customer experience. Established as the number one service provider for the payment industry in the EMEA and Asia region, OMA Emirates also provides value-added services such as e-remittance, e-vouchers, e-wallet solution, loyalty application, and various other services. We have been working on cutting edge and innovative solutions such as SoftPOS. At OMA, we develop all our solutions in-house with a developer team of over 60 resources across our Middle East and Asia offices.

How has the payments sector evolved in the last decade and where do you see the next growth avenue for it in the next couple of years?

We took a leap in moving ahead with an Android-based platform from a traditional platform, where we once again developed our own hardware and supporting software. Along with Android payment application, OMA Store was a platform developed for business applications with a seamless integration for payments. Single hardware device serves multiple purposes over payment functionality.

We foresee SoftPOS to be the next growth avenue to facilitate smaller merchants to accept payment via their Android smartphones. Digital kiosks are a new channel for the banks to interact with customers such as for account opening, card issuing, cash recycle, cheque printing etc.

AI is expected to be a major revenue earner in the months and years to come for several industries. In this regard how do you see robotic process automation or RPA as a major solution for your clients?

Again, this was foreseen a few years back and RPA was developed with the ultimate aim to eliminate any manual intervention, reduce operational workload in areas such as reconciliation/settlement/automate money transfers etc. Another example is to optimize bank operations using AI, such as CIT within ATM monitoring solutions.

Please share the growth plans for OMA Emirates over the next five years.

OMA Emirates has an ambitious growth plan. Over the next five years, we are looking forward to increasing and consolidating our presence in Asia and Africa and to provide payment services to financial institutions in Issuing and Acquiring apart from being only a technology provider. From the product point of view, OMA plans to develop the latest technology based on payment trends and regulations such PCI/EMV industry standards.