Introducing the power of the new BFC pay app

Manama: BFC Payments is pleased to announce the launch of the new and powerful BFC Pay App. The enhanced App has a digital wallet that includes easy account opening using eKYC and can load money or receive your salary directly to the mobile wallet. The app enables customers to do international remittance, local bill payments, wallet to wallet money transfer and much more using 3 different payment methods - BenefitPay App, Benefit Payment Gateway and BFC Pay wallet.

BFC Payments, the Fintech arm of BFC Group, provides digital payments services for Corporates, SMEs and Consumers. One of the significant features on the new BFC Pay App, is the digital wallet, was to comply with LMRA’s Wage Protection System (WPS) initiative that provides the unbanked sector in the Kingdom of Bahrain with digital salary accounts. This law will require employers to pay their employees through any medium that is licensed by CBB, protecting worker’s financial rights which are governed by their contracts of employment.

Mr. Davis D Parakal, Head of Business Development, Strategic Partnerships & Innovation of BFC Payments said, “Bringing superior and innovative customer experience to Bahrain's FinTech space is part of our overarching strategy and BFC Pay is a major milestone towards it. While offering local and international payments to our Banked customers, BFC Pay will be a salary account for the unbanked segment. Now our WPS digital Payroll system work hand-in-hand with the new app which enables our corporate and SME clients to disburse the salary straight to customers mobile wallet.’’

The new BFC Pay App also enables users to remit money worldwide at great rates - quickly, safely and conveniently.

Mr. Deepak Nair, CEO of BFC said, “This is a major digital leap for us and is part of the Group’s significant commitment to invest in digital innovation. With BFC powering international remittance on the BFC Pay App, we are delighted to extend our online money transfer services, increasing customer convenience.”

The BFC Pay App comes with additional features such as secure biometric and PIN login, instantly adding and managing beneficiaries, keeping a track of remittance, bill payments and wallet transaction history, rates notifications, and much more.

The BFC Pay App can be downloaded on Google Play Store, App Store and Huawei AppGallery.

BFC Payments is a part of BFC Group which is one of the financial leaders in the region that includes an international network of money exchanges across four countries. The history of the companies that are incorporated under the Group date back over 100 years, with Bahrain Financing Company (BFC) trading in gold bullion and continually growing its services.

For more information on BFC Payments, please visit www.bfcpay.com or by getting in touch with a BFC Payments on +973 1700 4548 / 1771 1775

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About BFC Group Holdings

BFC Group Holdings (BFC Group / The Group) is the holding company for Bahrain Financing Company (BFC), Bahrain, Bahrain Exchange Company (BEC), Kuwait, BFC Forex & Financial Services PVT Ltd (BFC Forex), India and BFC Payments, Bahrain.  The Group specializes in sending and receiving money securely and efficiently across the globe and offers foreign currency exchange solutions at the best available rates. BFC Group continues to grow its retail network and currently has over 130 branches located across the world. In addition, BFC Group also has an extensive global reach of over 200 countries through its partnership with MoneyGram – an international money transfer company.  For more information visit www.bfcgroupholdings.com 

© Press Release 2021