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BankDhofar Partners with Smartech to enhance POS Solutions for SMEs

March 18, 2025

Reinforcing its commitment to Oman’s digital transformation, BankDhofar—the nation’s largest bank by branch network—has signed a Memorandum of Understanding (MoU) with Smartech, an Omani software solutions specialist, to establish a strategic partnership that integrates accounting and electronic payment solutions. This collaboration aims to enhance digital financial services by merging Smartech’s system with BankDhofar’s Soft POS technology, creating an all-in-one platform for businesses to manage payments and financial transactions seamlessly. The solution is designed for small and medium enterprises (SMEs) in retail, restaurants, and laundry services. Integrated with Bank Dhofar’s SoftPOS, SMEs can automate accounting, process orders, generate invoices, track sales, and handle billing seamlessly. They can also accept payments directly through the same application, saving time and reducing manual errors. This helps businesses maintain accurate financial records and gain better control over their cash flow.

The MoU was signed by Amjad Al Lawati, Chief Retail Banking Officer (CRBO) at BankDhofar, and Abdulaziz Al Maawali, Founder & CEO of Smartech, in the presence of senior representatives from both organizations. Under this agreement, Smartech will oversee the installation of the integrated system, provide training for businesses, and offer ongoing technical support. BankDhofar, on the other hand, will supply Soft POS solutions along with banking support and promotional backing.

Commenting on the collaboration, Amjed Al lawati, Chief Retail Banking Officer at BankDhofar, stated: “This partnership marks a milestone in Oman’s digital transformation, integrating cutting-edge accounting and payment solutions to enhance business efficiency and financial inclusion. By merging Smartech’s accounting system with BankDhofar’s Soft POS technology, we are enabling businesses to access a unified financial ecosystem that simplifies transactions, ensures compliance, and improves operational productivity.”

Smartech, a Muscat-based technology-driven Omani SME, specializes in Accounting & ERP solutions, POS system integration, software development, IT automation, and digital payment technologies. Focused on business efficiency and financial technology, the company is dedicated to transforming how businesses handle payments and accounting, making financial transactions more seamless and automated.

*Bank Dhofar & Smartech logo. Image courtesy: Company official websites*

Restaurants can benefit from this solution by streamlining order processing, managing tables efficiently, and connecting POS terminals with kitchen systems. Real-time reporting helps restaurant owners track sales and popular items, making it easier to manage peak hours and inventory smoothly.

Retail businesses can manage in-store and online sales on a single platform, track inventory accurately, and access real-time sales reports. The system’s integrated payments and accounting features simplify financial management, helping retailers focus on growth and customer satisfaction.

For laundry services, the system offers automated billing, order tracking, and timely notifications for customers. Integrated loyalty programs help businesses retain customers with personalized offers, making daily operations simpler and more convenient.

Crucially, this partnership aligns with Oman Vision 2040’s objective of fostering a cashless economy while empowering SMEs with secure, AI-driven financial tools. With features such as real-time analytics, cloud-based integrations, automated invoicing, and advanced fraud protection, the integrated solution is set to revolutionize financial operations across industries including retail, hospitality, healthcare, and logistics.

Businesses interested in adopting this next-generation financial solution can sign up through BankDhofar or Smartech, with exclusive early adoption benefits available for SMEs. This strategic alliance paves the way for a smarter, faster, and more secure financial ecosystem in Oman, accelerating digital growth and financial inclusion.

BankDhofar remains at the forefront of Oman’s digital banking evolution, leveraging its extensive branch network, cutting-edge digital solutions, and robust technology integration to support businesses. With ongoing investments in innovation and customer-centric digital upgrades, BankDhofar continues to empower its clients with advanced financial tools, ensuring efficiency, convenience, and security in their financial operations.

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