TDT | Manama The Daily Tribune – www.newsofbahrain.com BENEFIT, a Fintech and electronic financial transactions services, announced partnering with United Insurance Company to streamline the payment of insurance premiums for customers traveling between Saudi Arabia and Bahr
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
BENEFIT, a Fintech and electronic financial transactions services, announced partnering with United Insurance Company to streamline the payment of insurance premiums for customers traveling between Saudi Arabia and Bahrain through King Fahad Causeway.
BenefitPay, facilitated by “Fawateer” service, said is on track to allow customers to purchase insurance policy through the United Insurance Company integration.
Furthermore, the partnership will enable United Insurance Company to provide the same service across all banks' mobile and online banking channels.
Abdulwahwed AlJanahi, CE at BENEFIT, said, “This initiative is a significant step towards enhancing availability of electronic payments and reducing paper money in line with national trends., while enhancing the King Fahd Causeway crossing experience through leveraging Fawateer's service integrated in BenefitPay, the most used application in Kingdom of Bahrain.”
On her part, CEO of United Insurance Company, Maysa Abdulwahed Alkooheji, said, “We are pleased to collaborate with BENEFIT to deliver this functionality to our consumers and contribute to boosting the travel experience across the King Fahad Causeway.”
Fawateer" service is part of electronic money transfer package, in addition to Fawri and Fawri+ and it allows electronic payment of one-time bills or recurring bills.
The service is available through BenefitPay app, and the electronic channels of banks and self-payment platforms.
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 provides innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors.
