Gulf Strategic Solutions (GSS) and Festipay, a cashless payment technology provider, have signed a strategic alliance with the aim of developing integrated cashless payment solutions and event planning services across the Middle East.
The aim of the new partnership will be to develop market leading event services, with a focus on the development, promotion and distribution of Festipay’s cashless payment solutions, which have been utilised across several major events across Europe and the Middle East in recent years.
An affiliated company of Bahrain International Circuit (BIC), GSS was established in 2023 to develop specialist event planning services for third parties, based on its 20 years of expertise in running the Formula 1 Grand Prix and many other significant events for third parties.
Its relationship with Festipay was cemented last year as the Bahrain Grand Prix became a cashless venue for the first time ever, making use of the technology and expertise provided by Festipay.
As well as providing integrated point of sale technology across the venue for card transactions, it also developed ‘BIC Pay’ a pre-paid card solution for customers, meaning that fans enjoyed simple, fast cashless payments across BIC. The technology has also been used for other major events at BIC, including The World Endurance Championship and The Bahrain Darts Masters.
GSS will work with Festipay to promote and implement the cashless solution and associated technologies to major events across the region.
“Since its establishment, GSS has sought to partner with best-in-class organisations that share our ambition to deliver high quality events,” said BIC chief executive Shaikh Salman bin Isa Al Khalifa.
“Festipay’s expertise in cashless payment solutions, as evidenced by its work at last year’s Formula 1 race in Bahrain, means that this strategic alliance is a natural partnership for us. We look forward to working with the team at Festipay on new and exciting opportunities.”