CBB launches coding service for payment

MANAMA: The Central Bank of Bahrain (CBB), in co-operation with The Benefit Company, announced the launch of a coding service for operating the encryption feature for contactless payment for smartphones running the Android system.

The feature allows payments to be made digitally via POS devices using a smartphone.

The service is characterised by the ease of completing payment transactions, as it is done through the use of the Benefit B app by placing the customer’s smart mobile device close to the point of sale device and completing the transaction without the need to use a plastic bank card.

The encryption service is also characterised by the highest levels of security, as it blocks the card’s data from the other party’s visibility and prevents any party from accessing it. Thus the customer is protected from the risk of misuse of the data available on the card and those stored in it.


Source: http://www.gdnonline.com/Details/851128/CBB-launches-coding-service-for-payment


Share this page Share on FacebookShare on TwitterShare on Linkedin

Listen to 'Radio FCCIB' Videos & Podcast

Radio FCCIB is the new program launched by the French Chamber of Commerce & Industry in Bahrain, asking 3 questions to its members