Manama, Kingdom of Bahrain – Arab Financial Services (AFS) and Visa, have today announced their SME Partner Programme to launch prepaid cards for businesses in Bahrain and Oman.

As the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, AFS is also a prominent merchant acquirer in Bahrain and Oman, with state-of-the-art digital payments acceptance solutions and services that have become the payments solutions of choice in both markets. AFS and Visa's collaboration will pave the way for digitizing merchant settlements through prepaid cards and launching digital credentials for AFS’s large merchant base in both countries.

Samer Soliman, Chief Executive Officer at AFS said: “The strategic partnership between AFS and Visa represents a step forward for business’ digital payments in Bahrain and Oman as well as our shared vision of digitized payments ecosystems. This will be the first B2B use case for prepaid cards, and we plan to expand this offering to other markets in the Middle East and Africa. Together, AFS and Visa can quickly bring to the market prepaid cards that are designed with security at the core and have the potential for enhancement and growth over time. I look forward to a fruitful and ever-growing collaboration that will evolve to other areas like Fintech Partnership amongst others.”

Ali Bailoun, Regional General Manager - Saudi Arabia, Bahrain and Oman at Visa, said: “Through this partnership, AFS would be enabling their merchant community with Visa prepaid credentials in both Bahrain and Oman, which is in line with our mission of digitizing the merchant ecosystem. We look forward to deepening our partnership with AFS and expanding our collaboration with them across digital acceptance, Fintech enablement and other areas.” 

Regulated by The Central Bank of Bahrain, and majority-owned by Bank ABC, AFS boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in Bahrain, Egypt, Oman, and the UAE. Its dedication to innovation has positioned AFS as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets, market-leading merchant acquiring services, Bahrain’s leading digital payroll solution, global contact centers and more.

-Ends-

For media inquiries please contact:
Arab Financial Services Company B.S.C. (C)
E-Mail: pr@afs.com.bh

About AFS:

Arab Financial Services (AFS) was formed in 1984 to provide payment products, services and expertise to banks and merchant groups and deliver customized payment solutions in an increasingly divergent, disruptive, and dynamic payment ecosystem.

A key to the growing and continued success of the company was an executive team determined to invest in the most up-to-date, leading-edge technologies. AFS is owned by a total of 37 banks and financial institutions and serves over 60 clients in more than 20 countries across MEA.

Today, AFS is the region’s leading digital payment solutions provider and Fintech enabler, regulated by the Central Bank of Bahrain.

AFS’s innovative approach to the provision of financial services is evidenced by a series of pioneering payment services that covers debit, credit, and Islamic card processing, merchant acquiring, fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in the Kingdom of Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates.

The emphasis that AFS places on innovation has positioned the company as a driving market force, delivering a rich portfolio of payment solutions including popular digital mobile wallets, customer orientated Merchant Acquiring services; Bahrain’s leading digital payroll solution, global contact centers and much more.

Trusted by businesses across the region AFS has been recognized as the “Most Innovative Payment Solutions Provider 2023" by MEA Finance, “Best Payment Solutions Provider Bahrain 2023" by International Business Magazine, “Best Payments Solutions Provider – Bahrain 2022” by MEA Finance, “Best New Payment Solutions Provider for MSME Business Bahrain 2022" by Global Business Magazine, “Leading Payments Innovator Bahrain 2022” by Global Business Outlook and “Best Payment Solution Provider Bahrain 2022” by Global Banking & Finance Review.

Visit www.afs.com.bh for more information and join the conversation on LinkedIn.