Batelco launches new FinTech service with AFS
Batelco and AFS hope bWallet will launch a new FinTech revolution in the kingdom
Batelco and Arab Financial Services (AFS) have launched bWallet, a new digital mobile wallet and payment solution.
Batelco Bahrain CEO Mohamed Bubashait and AFS CEO B. Chandrasekhar, along with officials from both Batelco and AFS officially launched the service. bWallet supports Batelco and AFS's efforts to transform the way people shop. It enhances customer experience through new ways to pay and transfer money.
All mobile users, regardless of operator, can benefit from this FinTech technology, which can be downloaded from the App Store or Google Play Store. A simple registration process will allow them to enjoy a fast contactless and secure payment experience.
Over 40 leading brands, with 300 retail outlets, have already signed up to make the service available for their customers with many more set to be onboard soon.
Batelco Chairman Shaikh Mohamed bin Khalifa Al Khalifa said that the new service is in line with Batelco's commitment to ensure the best in class digital and FinTech solutions for the Kingdom's consumers and is another step in the journey towards meeting the Kingdom's 2030 vision.
Batelco Bahrain CEO Mohamed Bubashait added: "This new service, which merges our core business of mobile communications with payment solutions, will be adapted as financial technology and customers' needs continue to evolve."
AFS Chairman Sael Al Waary said: "The launch of bWallet represents an important milestone in AFS's strategy and is a core component in fulfilling our vision of becoming the partner of choice in facilitating payments and FinTech in the region. We are honoured to have established this landmark partnership and wholly committed to support the Kingdom of Bahrain in realising its vision of becoming a cashless society."
AFS CEO B Chandrasekhar added: "bWallet will have unique features including dynamic QR and contactless payment methods and wallet-to-wallet transfers."
As a special introductory offer, the first 10,000 customers of bWallet will receive BD 3(~ $8) sign-on bonus. In addition, 2% cashback will be offered on all merchant payments made through the bWallet until 31 March 2018.