Latest news with #AhmedElKaffass
Yahoo
15-04-2025
- Business
- Yahoo
Visa supports cross-border transfers in Bahrain
Visa has launched its Visa+ service in Bahrain, enabling customers to conduct cross-border transfers within the Gulf Cooperation Council (GCC) by using the recipient's mobile number. Visa is launching this new cross-border remittance service in partnership with local banks, through the BenefitPay app. Initially, this service is accessible to clients of Bahrain Islamic Bank (BisB) and Khaleeji Bank. Visa+ allows BisB and Khaleeji Bank customers to send funds to Visa debit and prepaid cardholders across the GCC without the need to share sensitive card or bank account details. The service uses a mobile number as an alias for the transaction, which enhances the security and simplifies the transfer process. This move is part of an initiative to create a cross-border payment network. The initial phase includes BisB and Khaleeji Bank in Bahrain, Emirates NBD in the UAE, and Qatar Islamic Bank in Qatar. The goal is to connect multiple banks across the GCC and eventually expand to include Pakistan and EU countries, facilitating global remittances. Visa+ aims to provide financial institutions with the capability to offer their customers a secure and private money movement experience, relevant for peer-to-peer payments, financing disbursements, and cross-border remittances. Visa Bahrain country manager Ahmed ElKaffass said: "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. 'The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally." Earlier this month, Visa expanded its portfolio of services with the launch of three new solutions - a reimagined platform, Unified Checkout, and the ARIC Risk Hub. "Visa supports cross-border transfers in Bahrain " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Gulf Insider
15-04-2025
- Business
- Gulf Insider
Visa Enables Money Transfers through BenefitPay by Mobile Number in Bahrain
Visa, has introduced Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank during its initial phase, making the Kingdom one of the first global markets to offer Visa+. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias – a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number – PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally. Commenting on the launch of the service, Abdulwahed AlJanahi, the Chief Executive of BENEFIT, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing BENEFIT to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' 'At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally,' said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience—and improve protection of privacy—for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers.
Zawya
15-04-2025
- Business
- Zawya
Visa enables money transfers by mobile number in Bahrain
Visa, a global leader in digital payments, has introduced Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service, made available through Benefitpay, is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank at the initial phase. Bahrain is one of the first global markets to offer Visa+, marking a significant milestone that highlights the market's readiness to embrace next-generation financial solutions and accelerate digital-first experiences, said Visa. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias - a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number - PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally, it said. Abdulwahed AlJanahi, the Chief Executive of Benefit, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing Benefit to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience — and improve protection of privacy — for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers, said Visa. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
14-04-2025
- Business
- Trade Arabia
Visa enables money transfers by mobile number in Bahrain
Visa, a global leader in digital payments, has introduced Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service, made available through Benefitpay, is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank at the initial phase. Bahrain is one of the first global markets to offer Visa+, marking a significant milestone that highlights the market's readiness to embrace next-generation financial solutions and accelerate digital-first experiences, said Visa. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias - a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number - PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally, it said. Abdulwahed AlJanahi, the Chief Executive of Benefit, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing Benefit to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience — and improve protection of privacy — for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers, said Visa. - TradeArabia News Service
Zawya
14-04-2025
- Business
- Zawya
Visa enables money transfers through BenefitPay by mobile number in Bahrain
Manama, Bahrain – Visa, a global leader in digital payments, introduces Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank at the initial phase. Bahrain is one of the first global markets to offer Visa+, marking a significant milestone that highlights the market's readiness to embrace next-generation financial solutions and accelerate digital-first experiences. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias - a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number - PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally. Commenting on the launch of the service, Abdulwahed AlJanahi, the Chief Executive of BENEFIT, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing BENEFIT to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience—and improve protection of privacy—for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About BENEFIT BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom's financial services industry. BENEFIT is owned by Banks in Bahrain, regulated by the CBB, to provide innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors in the Kingdom of Bahrain and the Region. BENEFIT's range of services – supported by GCCNet in countries within the region – include operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet, The GCCNet Dispute Management System, Credit Reference Bureau (CRB), Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal, eCheque, EFTs, national eWallet (BenefitPay) and national eKYC Platform for the financial sectors, Bahrain Electronic Cheque, Wages Protection System, and Trust Services for digital signatures.
