BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced the availability of the Digital Direct Debit service via “Fawateer” through its BenefitPay app. The launch marks a significant step forward in Bahrain’s ongoing digital payments transformation, offering a more advanced, secure, and efficient model for managing recurring financial obligations.

This aligns with the directives of the Central Bank of Bahrain to further reinforce Bahrain’s position as a leading regional hub for innovation in digital payments and FinTech.

The Digital Direct Debit service provides an advanced alternative to traditional paper-based procedures, enabling the instant activation of mandates without the need for manual processing or delays. Delivered through secure digital channels that rely on verified customer credentials, the service enhances security and reduces fraud risks commonly associated with conventional methods.

The service enhances operational efficiency for beneficiary entities by automating authorisation and collection processes, reducing reliance on manual data entry, and lowering administrative costs, while also minimising the risk of human error. It further supports companies in strengthening cash flow management through automated collections processed on due dates.

Digital Direct Debit also offers users a smooth and straightforward payment experience, while supporting environmental sustainability through a fully paperless digital model. The service stands as a key pillar and enabler of innovation across FinTech, Open Banking, Open Finance, embedded finance, and account-to-account (A2A) payments, forming a foundational step in the transition toward the concept of smart money. In doing so, it supports the evolution of Bahrain’s financial ecosystem toward smarter, more connected payment infrastructures.

The service is powered by an API-based interface that connects billing and invoicing systems with customer-facing apps, enabling more seamless payment processes. It also provides customers with greater flexibility in managing their mandates, while supporting automated reconciliation and integration with Enterprise Resource Planning systems. In addition, it enables the automation of accounting processes through ISO 20022, the international standard for exchanging financial data between financial institutions.

Mr. Abdulwahed AlJanahi, Chief Executive at BENEFIT, affirmed that the company is proud to continue strengthening Bahrain’s electronic payments ecosystem through the Digital Direct Debit service, describing it as a significant milestone in the development of streamlined payment and settlement services across the Kingdom.

"This initiative reflects BENEFIT’s ongoing drive to deliver innovative and secure solutions that respond to market needs and support the transition towards a digital economy. It also aligns with the Central Bank of Bahrain’s directives aimed at enhancing digital payments infrastructure, improving efficiency and transparency, and further reinforcing Bahrain’s standing as a leading centre for FinTech innovation and excellence.” said Mr. AlJanahi.

For more information,
Aisha Buhiji
Administrator, PR Corporate Communication
ayshab@benefit.bh www.benefit.bh
The Benefit Company B.S.C (C) P.O Box 2546, Seef District, Kingdom of Bahrain