Bahrain-based leading fintech and electronic financial transactions service firm, BENEFIT has launched a remittance service as part of its digital payment app, BenefitPay, which will allow all users to make global money transfers.
The new remittance service will enable users to transfer money faster and cheaper with value-added benefits that are offered through various leading service providers in the country via one platform. It will be initially commenced in association with Bahrain Finance Company (BFC), while other institutions will be added in the near future.
Abdulwahed AlJanahi CEO – BENEFIT
“We are delighted to onboard this service, which reflects BENEFIT’s strategic goal of continuously expanding our solutions to multiple communities, and offering our consumers cutting-edge digital solutions. This service will undoubtedly benefit a great proportion of society and we’re honored to play a role in ensuring our consumers can perform their payments safely and securely. The remittance service operates as a marketplace for all licensed remittance service providers in the Kingdom of Bahrain. We are coordinating with all the authorized remittance institutions to be part of this comprehensive platform.”
Mr. Deepak Nair, CEO of BFC stated, “We are thrilled to be part of this journey, and as the first service provider in Bahrain to join the platform, which is characterized by ease of use, speed and transparency, and provides international communities with increased convenience.”
BENEFIT’s new digital remittance service facilitates sending money abroad. The new service aims to disrupt the industry by offering an innovative solution for seamlessly transferring money. With this service, users can choose the amount they want to send and where, and get several affordable, fast and secure options from local top trusted providers.
Transfers can be made to bank accounts defined within banks abroad, or by receiving the transferred amount directly at the offices of the receiving institution. This service is in line with the National Electronic Wallet Payment System, BenefitPay’s expansion of offerings in response to its users’ need for high-quality services.
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