Manama, Bahrain: BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, hosted a delegation from Brunei last month to get acquainted with BENEFIT’s successful payment infrastructure framework.

BENEFIT presented their core features and implementation method, including key success factors and challenges, when it comes to instant payments to Brunei's delegation. This is in line with their announcement earlier this year to develop an instant payment infrastructure to enhance the commercial and socio-economic benefit of the country.

BENEFIT’s payment infrastructure is considered to be one of the most advanced and leading modules globally, hence, the delegation aims to further provide an enabling environment by sharing key success strategies implemented by BENEFIT over the years.

 Shafaq Alkooheji, Head of Payment Services, BENEFIT commented, “We have always played a pioneering role when it comes to digitizing our payment infrastructure in the Kingdom and the MENA region. Our success needs to be shared with other players in the region so that we can build enabling ecosystems everywhere. It was a pleasure hosting representatives from Brunei in Bahrain, and sharing our successful case studies with its challenges and to also shed light on insights that can simplify their payment journey as well. We are happy to support and contribute to Brunei’s Digital Payment Roadmap and look forward to witnessing innovation regionally and globally.”

Due to BENEFIT’s dominant presence in the MENA FinTech market, the company has hosted several knowledge exchange sessions and delegations to pave the way for other players in the region.

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About BENEFIT

BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom’s financial services industry. BENEFIT is owned by Banks in Bahrain, regulated by the Central Bank of Bahrain (CBB), to provide innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors in the Kingdom of Bahrain and the Region.

BENEFIT’s range of services – supported by GCCNet in countries within the region – include operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet, The GCCNet Dispute Management System, Credit Reference Bureau (CRB), Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal, eCheque, EFTs, national eWallet and national eKYC Platform for the financial sectors.