Batelco, a Bahrain-based digital solutions provider and AFS, a leading payment services provider, have signed a memorandum of understanding (MoU) to roll out a modern mobile wallet solution in Bahrain.
AFS Chairman Sael Al-Waary and Batelco Bahrain CEO Muna Al-Hashemi, signed the MoU at Batelco headquarters in Hamala.
The innovative solution will help accelerate Bahrain’s journey toward 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 utilise the latest quick response 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 few months.
“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,” said Al-Hashemi.
Al-Waary said, “AFS is proud to partner with Batelco to launch the mobile wallet demonstrating Bahrain’s leading position in the mobile payment solutions in the Gulf Cooperation Council (GCC).
“It is another step to promoting cashless payments and financial inclusion putting Bahrain at the forefront of the FinTech revolution,” he added