BENEFIT, Bahrain’s leading fintech company and pioneer in electronic financial transaction services, has introduced a new feature on its BenefitPay application that enables merchants to easily add and manage their business accounts.
The launch comes in response to a directive from the Central Bank of Bahrain aimed at enhancing digital financial services and streamlining business account management for merchants across the Kingdom.
This new feature is designed to support single-owned commercial registrations, enabling them to accept customer payments conveniently through Fawri+ and Fawri services using their mobile number, eliminating the need for bank account numbers or IBANs. Additionally, allowing business owners to make payments from their business accounts through Fawri+ and fawri conveniently.
Through BenefitPay, merchants, entrepreneurs, and small enterprise owners can now track, monitor, and, as well as connect employee devices to receive real-time notifications for every transaction. Businesses can access these features for free using their BenefitPay business accounts.
Yousif Al Nefaiei, Deputy Chief Executive – Business Development and Services of BENEFIT, commented that, “Here, we are committed to empowering merchants with innovative digital solutions that enhance trust and convenience in payments. The new business account feature on BenefitPay allows enterprises to separate and manage their financial operations more effectively, while also providing customers with seamless payment experience. This initiative marks a significant step in advancing Bahrain’s digital economy.”
“The company continuously introduces new features as part of its strategic plans to strengthen the payments ecosystem in Bahrain, while maintaining close collaboration with all stakeholders to deliver solutions that support businesses and the wider community,” Al Nefaiei added.
