Manama, Bahrain: Batelco, Bahrain’s leading digital solutions provider and AFS, the region’s leading payment services provider have signed an MOU to roll-out a state-of-the art mobile wallet solution in Bahrain. AFS Chairman Sael Al Waary and Batelco Bahrain CEO Eng. Muna Al Hashemi, signed on behalf of the two firms at Batelco headquarters in Hamala.
The innovative solution will add convenience to accelerate Bahrain’s journey towards a cashless digital society with added security for both consumers and merchants. A full range of integrated features will be available on the mobile wallet such as, person-to-person money transfers and loyalty points in a secure and convenient manner for both consumers and merchants and many other services.
The mobile wallet will utilize the latest Quick Response (QR) technology and will have near field communication (NFC) capability, allowing customers to tap and pay at participating outlets. The full solution will be rolled out in phases over the next several months.
Following the signing, Eng. Al Hashemi said, “We are very excited to partner with AFS to launch the mobile wallet solution in Bahrain. This will enhance the lifestyles of customers by providing a convenient cashless, secure and agile payment method.”
Mr. Al Waary said that AFS is proud to partner with Batelco to launch the mobile wallet demonstrating Bahrain’s leading position in the mobile payment solutions in the GCC.
“This is a complement to AFS’s suite of digital products and reach as a FinTech enabler in the region. This demonstrates Bahrain’s lead in the mobile payment solutions in the region. It is another step to promoting cashless payments and financial inclusion putting Bahrain at the forefront of the FinTech revolution.”
The signing ceremony was attended by Batelco Chief Marketing Officer Mike Stanford, Batelco Senior Manager Mobile Services Husain Al Aswad, AFS CEO B. Chandrasekar, AFS Group Head of Strategy and Fintech, Martin Roeske and AFS Director of Frictionless Payments Business, Shiraz Ali.
Source: Batelco Press Release