Payment services: CMA

The Swedish firm secured merchant interoperability for instant payments in Pakistan and overhauled Oman’s RTGS

Maxim Neshcheret, CMA
Maxim Neshcheret, CMA

CMA Small Systems has performed highly valuable work to develop an interoperable, forward-looking payment system in conjunction with central banks in the year under review. This included instant payments development work with the State Bank of Pakistan (SBP) and creating a real-time gross-settlement (RTGS) system with the Central Bank of Oman.

Prior to Covid-19, Pakistan – a country of some 220 million – had an antiquated retail payments system plagued by limited interoperability, high

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