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OMA Emirates

OMEGA Payment Scheme

OMEGA payment scheme is a payment network linked to closed loop payment cards, such as prepaid cards, gift cards, debit or credit cards, for which a bank or any other eligible financial institution can become a member. On becoming a member of the OMEGA scheme, the member then gets the possibility to issue or acquire cards operating on the network of OMEGA scheme.
OMEGA closed loop payment scheme is a body that sets the rules and technical standards for the execution of payment transactions using the payment systems. OMEGA manages the day-to-day operations of the payment systems and processes and ensures any regulatory requirements associated with the processing of closed loop payments are met.
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