Muscat, 23 May 2017: The Public Authority for Small and Medium Enterprises Development, Riyada, invited a number of its members who own small and medium enterprises, to view the new technology and benefits delivered by the new e-payment platform ‘Thawani’ which was launched just a few weeks ago.
Majid bin Fayil Al Amri, Founder and Managing Director of Thawani Technologies, gave a presentation which detailed how Thawani works to facilitate e-payment for both the seller and buyer. He further explained that the new Thawani application is an integrated platform to manage the payments system for both consumers and business owners. It does so by using smart phones and QR codes in a way that fully maintains the user’s data privacy and is in line with the highest local and international regulatory standards. The application also includes a special version for business owners allowing them to easily manage the payments process, the income, and the billing systems from their smart phones. The new payments platform performs regardless of the size of the company or the number of branches and it can do so remotely, without the owner having to be present at the company.
The Thawani presentation was attended by 40 owners of small and medium enterprises. It witnessed a great interaction from the audience who asked inciteful questions, showing great interest in the services offered by the new Thawani app and payments platform. Al Amri answered each of the queries in great detail, explaining all the simple steps a business can follow to register with Thawani for a specialised business account. Majid bin Fayil Al Amri also touched upon how to begin using Thawani to contact customers, send bills and payment requests, and several other services the platform offers to business operators. Moreover, the Thawani platform provides a substantial number of accounting and financial reports that can be customised as per the business owner’s needs. It also enhances profitability as the interest margin for payments with Thawani is less than what currently exists in the market using other payment channels.
Khalid bin Al Safi Al Huraibi, Executive Vice Head of Operations at Riyada said, “One of the most important solutions that helps small and medium enterprises to grow in their early stages is the simplification and acceleration of financial transactions through modern financial management tools; especially in terms of billing and cash management. Keeping this in mind, Riyada organised these series of meetings with Majid Al Amri, the founder of Thawani, to inform Riyada members on how to benefit from the new Thawani app when it comes to managing payments. We are delighted with the interaction that we saw in the first and second meetings and we are confident that the advanced e-payment solutions offered by the new platform will contribute in the development of small and medium enterprises in the Sultanate; helping them reach a greater number of customers, regardless of where they are located. This in turn will greatly help develop their business and enhance their profitability.”
Commenting on the benefits that small and medium enterprises can get by using the Thawani platform and app, Al Amri said, “I believe that small and medium enterprises stand to benefit the most from the Thawani platform, as it is these companies that generally suffer from the process of managing complicated payments. Thawani offers a very practical solution that can easily help them resolve this complicated issue; thereby allowing them focus more of their attention on the quality and marketing of their products and services. In addition to the practical solutions Thawani offers micro-businesses owners, those running their businesses from home can also rely on Thawani to solve their financial management requirements; so long as they have the appropriate business licenses.”
The Thawani platform and app was launched on 2 May 2017 under the patronage of His Highness Sayyid Taimur bin As’ad bin Tariq Al Said, marking the beginning of a new era of easy and secure e-payment solutions in the Sultanate of Oman.