Benefitpay takes major step towards digitalizing Bahrain

Bahrain has taken a big leap towards its transformation into a cashless society with the introduction of National Electronic Payment System known as BenefitPay, said Ithmaar Bank in a statement. The service, Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim said, is “safe and easy” to use and could well redefine the way we shop and even how we interact with cash. He, however, said that to fully reap its benefits and realise its potential customers will need to start using the app for themselves. BenefitPay, a special application launched by the Central Bank of Bahrain (CBB) and the Benefit Company (Benefit) jointly in July, enables customers to make purchases via smartphones. Currently, the application enables payment using registered debit cards but will include payments using credit cards, prepaid cards and bank accounts shortly. “This revolutionary technology could go long way towards transforming Bahrain into an efficient, cashless economy,” said Ahmed Abdul Rahim. BenefitPay is currently available at select stores.