Benefit, Bahrain’s leading company in electronic financial transactions services, has announced a cooperation agreement with Bahrain Financing Company (BFC ) to activate BenefitPay at all the branches of BFC.

 

Customers will be able to exchange or transfer money at exchange houses using BenefitPay, the national electronic wallet, rather than the use of physical cash. This agreement came as part of a series of agreements with the exchange companies operating in Bahrain to follow, said a statement.

 

This step is in line with Benefit’s efforts to encourage and create a cashless society, working in line with the kingdom’s vision to strengthen the digital community through launching a variety of services in different sectors, especially the banking sector, which has become dependable on electronic financial transactions.

 

Abdulwahed AlJanahi, CEO of Benefit, said: “It is our great pleasure to welcome aboard the BFC to the BenefitPay mobile application and launch this newly offered service with them, which serves to further expand our rapidly growing number of services, confirming our efforts to digitize all financial transactions. We look forward to moving forward in expanding our service base to serve a wider range of customers, in line with the national plan and the directives of the Central Bank of Bahrain.”

 

Rajesh Gairola, CEO of BFC, said: “We are delighted to have Benefit as a partner in this new service, which will enhance and provide our customers with added payment options provided by the company. BenefitPay is amongst the most innovative tools which allow for the operation of electronic payments, allowing our customers to have more electronic options, especially during these difficult times where our focus is directed at reducing the use of physical cash, in line with the preventative measures taken to combat the Coronavirus.”

 

BenefitPay has over 450,000 registered users and over 3,500 participating stores within a network that accepts the use of BenefitPay as a payment method. –TradeArabia News Service