20 July 2017
Innovative Solution to Provide Convenience and Security for Consumers and Merchants

Manama, Bahrain: Batelco, Bahrain’s leading digital solutions provider and AFS, the region’s leading payment services provider have signed an MOU to roll-out a state-of-the art mobile wallet solution in Bahrain.  AFS Chairman Sael Al Waary and Batelco Bahrain CEO Eng. Muna Al Hashemi, signed on behalf of the two firms at Batelco headquarters in Hamala.

The innovative solution will add convenience to accelerate Bahrain’s journey towards 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 utilize the latest Quick Response (QR) 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 several months.

Following the signing, Eng. Al Hashemi said, “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.”

Mr. Al Waary said that AFS is proud to partner with Batelco to launch the mobile wallet demonstrating Bahrain’s leading position in the mobile payment solutions in the GCC.

“This is a complement to AFS’s suite of digital products and reach as a FinTech enabler in the region. This demonstrates Bahrain’s lead in the mobile payment solutions in the region.  It is another step to promoting cashless payments and financial inclusion putting Bahrain at the forefront of the FinTech revolution.”

The signing ceremony was attended by Batelco Chief Marketing Officer Mike Stanford, Batelco Senior Manager Mobile Services Husain Al Aswad, AFS CEO B. Chandrasekar, AFS Group Head of Strategy and Fintech, Martin Roeske and AFS Director of Frictionless Payments Business, Shiraz Ali.

-Ends-

This press release has been issued by:

Batelco Corporate Affairs department. 

For further information, please contact Batelco Public Relations Office

Public.Relations@btc.com.bh / Fax +973 17611898

AFS Contact: Dina Kasrawi, Tel: +97339409951,Email: dina.kasrawi@afs.com.bh

About Batelco

Batelco Group is headquartered in the Kingdom of Bahrain and listed on the Bahrain Bourse. Batelco has played a pivotal role in the country's development as a major communications hub and today is the leading integrated communications’ provider, continuing to lead and shape the local consumer market and the enterprise ICT market. Batelco has been growing overseas via investing in other market-leading fixed and wireless operators.

Batelco Group has evolved from being a regional Middle Eastern operation to become a major communications company with direct and indirect investments across 14 geographies, namely Bahrain, Jordan, Kuwait, Saudi Arabia, Yemen, Egypt, Guernsey, Jersey, Isle of Man, Maldives, Diego Garcia, St. Helena, Ascension Island and the Falkland Islands. 

www.batelco.com

www.batelcogroup.com

About AFS

AFS is the leading payments provider in the MENA region for over 30 years. Owned by 40 banks and financial institutions and regulated by the Central Bank of Bahrain, AFS offers innovative and end-to-end payment solutions to its clients, along with state-of-the-art value added services suite.  AFS has offices in Bahrain and UAE.  AFS is PCI 3.2 compliant and has won several global awards including Best Payment Processor.

www.afs.com.bh

© Press Release 2017