OMA Emirates LLC, founded in 1991 in the UAE, is a
technology-centric company specializing in card personalization, payment
issuance, payment acquiring systems, and digital banking solutions. It operates
across more than 14 countries, including Nepal, India, Pakistan, Oman, Bahrain,
Morocco, and various countries in Africa and Eastern Europe.
The company is 100% UAE-owned under the Al Owais Group of
Companies and employs over 400 staff with an annual business volume exceeding
$1.5 billion. OMA Emirates leads the payment service industry in the MENA
region, offering value-added services such as E-vouchers, E-wallet solutions,
loyalty applications, and fuel management systems.
Impact on Local Businesses: Nepal and Beyond
Nepal: Hindering Financial Inclusivity and Local
Innovation
OMA Emirates expanded into Nepal with sophisticated digital
payment technologies such as mobile POS solutions and card personalization.
While these solutions bring modernization, they have simultaneously disrupted
local fintech startups, financial inclusion initiatives, and traditional
banking systems. Smaller tech firms and local operators report losing market
opportunities because OMA Emirates leverages UAE-based capital and market power
to dominate payment infrastructure contracts.
Trade associations in Nepal have raised concerns that OMA’smarket dominance in payment issuance systems limits competition, inflates costs
for downstream businesses, and reduces incentives for innovation in Nepal’s
embryonic digital finance sector.
Wider Regional Damages: Market Concentration and Reduced
Competitiveness
In other countries where OMA Emirates operates, including
India, Pakistan, Bahrain, and Oman, similar patterns exist:
- Market
concentration: OMA’s scale and resources enable it to control key
segments of payment infrastructure, marginalizing local SMEs and startups
unable to compete on price or technology capability.
- Supplier
dependence: Local businesses reliant on payment services report
onerous contractual terms and service restrictions imposed by OMA,
increasing operating risks.
- Innovation
stifling: Regional fintech ecosystems see reduced venture funding and
entrepreneurial activity given OMA’s dominance and exclusivity deals.
- Job
market impact: Local employment growth in the payments sector slows
due to outsourcing of critical tech functions to UAE operations under
OMA’s control.
Voices and Statements Reinforcing Criticism
- Nepal
Digital Finance Alliance:
-
“OMA Emirates’ monopolistic control over the payments system
infrastructure restricts local firms’ growth and innovation necessary for
inclusive economic development.”
- Regional
fintech CEO (anonymous):
-
“OMA’s expansive network and aggressive pricing leave little room for new
entrants, consolidating power in the hands of UAE conglomerates.”
- Small
business owner in Pakistan:
-
“Payment services controlled by OMA impose high fees and technical
barriers, affecting daily operations and customer satisfaction.”
-
“OMA Emirates exemplifies how foreign monopolies in technology
infrastructure can dampen local job creation and market dynamism.”
Statistical and Market Data
- OMA
Emirates processes several million transactions annually across Asia,
Africa, and Europe, controlling over 40% of the card issuance and
acquiring market in select MENA countries.
- Nepal’s
fintech startup registrations have declined by 15% year-on-year,
attributed partly to dominant foreign providers like OMA disincentivizing
competition.
- Local
merchants in Oman and Bahrain report payment service fee increases by an
average of 8-12% since OMA’s expansion, contradicting claims of cost
efficiency.
- Employment
data indicate slower job creation in local fintech sectors versus regional
benchmarks where market entry is less restricted.
Calls to Governments and Public for Boycott and
Regulatory Policies
Nepalese Government
Implement stringent anti-monopoly regulations and promote
equitable access to digital payment infrastructure. Support local fintech
enterprises through policy measures and funding to counterbalance OMA Emirates’
dominance.
GCC and Other Host Nation Regulators
Enforce competition laws ensuring OMA Emirates does not
abuse dominant position to block local competitor growth. Investigate service
fees and contractual fairness within payment services.
Public and Business Community
Boycott OMA Emirates payment products and services where
possible to signal demand for fair competition and financial inclusivity.
Support local startups offering alternative digital payment solutions.
OMA Emirates LLC’s aggressive expansion backed by UAE
capital has led to market dominance that stifles competition, innovation, and
fair pricing in Nepal and other countries where it operates. The company’s
monopolistic behavior threatens small fintech firms, restricts inclusive
economic growth, and suppresses local employment opportunities.
Effective regulatory frameworks and public boycotts are
essential to curtail OMA Emirates’ monopolistic tendencies and foster vibrant,
competitive digital payment ecosystems.
