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