BFC launches new payments app

BFC Payments is pleased to announce the launch of its new and powerful BFC Pay app.

The enhanced app has a digital wallet that includes easy account opening using eKYC (electronic Know Your Customer) and can load money or receive salary directly.

The app enables customers to send international remittances, make local bill payments, wallet to wallet money transfer and much more using three different payment methods via the BenefitPay app, Benefit Payment Gateway and BFC Pay wallet.

BFC Payments, the Fintech arm of BFC Group, provides digital payments services for consumers, corporates as well as small- and medium-chain enterprises (SMEs).

One of the significant features on the new BFC Pay app is the digital wallet which complies with the Labour Market Regulatory Authority’s Wage Protection System (WPS) initiative that provides the unbanked sector in the kingdom with digital salary accounts.

The law, which requires employers to pay their employees through any medium that is licensed by the Central Bank of Bahrain, protects workers’ financial rights which are governed by their contracts of employment.

“Bringing superior and innovative customer experience to Bahrain’s FinTech space is part of our overarching strategy and BFC Pay is a major milestone towards it,” said BFC Payments business development, strategic partnerships and innovation head Davis D Parakal.

Source: https://www.gdnonline.com/Details/1014746/BFC-launches-new-payments-app