Oman Arab Bank (OAB) has launched a new OAB Visa SMART Commercial Card to provide businesses of all sizes better control and convenience when making work related payments.

The new cards have been designed to minimise administrative costs and simplify the purchase-to-pay process while giving firms improved capabilities when managing their business transactions.

Cardholders can use the new card at any location in the country. Further, limits can be set on per transaction, daily, or monthly basis while cash advances and restrictions on authorisations can be fixed with ease.

The new cards, which use the Verified-by-Visa service for added online security, are equipped with EMV chip technology.

OAB general manager retail banking Fahd Amjad said: "The new OAB SMART Commercial Card is secure, efficient and uncomplicated, providing organizations with the perfect tool to streamline their purchasing and procurement practices.

"Companies can choose to restrict payments to any merchant they choose, whether online or offline, by implementing a variety of controls as well as having the ability to monitor the cardholder’s activity.

"The introduction of this service is part and parcel of Oman Arab Bank’s commitment to offer innovative products and solutions that empower customers to manage and enhance their finances."