Bahrain/Mumbai: NPCI International Payments Ltd (NIPL, International arm of National Payment Corporation of India) has collaborated with BENEFIT, Bahrain’s innovator and leading company in Fintech and electronic financial transactions service to enable RuPay acceptance at ATMs and Point of Sale (PoS) terminals across Bahrain.
RuPay is the first-of-its-kind Global Card payment network from India, conceived and operated by the National Payments Corporation of India (NPCI). With over 635 million cards issued to date, it is an exceptional self-reliant card payments network with innovative features that has made it a successful interoperable card. RuPay is also continuously innovating through disruptive use-cases like contactless payments through NFC and other evolving payment technologies like Wearables, Tokenization, etc. These technologies enable consumers to securely use their phones to make card payments without disclosing their sensitive card details.
Mr. Abdulwahed AlJanahi, CE-Benefit commented, "It is with great pride that we announce our collaboration with NPCI for RuPay, we believe that this tie-up with BENEFIT will bring significant advantage to their customers as it will enable users to get the most of our outstanding electronic payment solutions across the Kingdom. This cooperation with other prime markets for FinTech, like India, will allow us to serve a wider range of customers and create a more cashless society since we play an important role in innovating financial transactions in Bahrain. And we would like to thank the Central Bank of Bahrain for their support to achieve this milestone.”
Ritesh Shukla, CEO, NIPL said, “At NIPL, we are dedicated to strengthening foothold of our card scheme – RuPay in international markets. We constantly strive to offer an evolved and personalised shopping experience to the customers and drive digital payments acceptance across the globe with our cutting-edge technology. We look forward to a continued collaboration with BENEFIT, which will empower Indian travellers and the large Indian community in Bahrain. We aim to create an end-to-end value proposition for RuPay Cardholders to make their Bahrain travel experience seamless and memorable.”
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 Central Bank of Bahrain (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 – includes 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), Internet Banking (IB), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal and recently national eWallet and national eKYC Platform for the financial sectors.
For more information, please visit: https://www.benefit.bh
About NPCI International:
NPCI International Payments Limited (NIPL) was incorporated on April 3, 2020, as a wholly-owned subsidiary of National Payments Corporation of India (NPCI). As the international arm of NPCI, NIPL is devoted for deployment of NPCI’s indigenous, successful Real-Time Payment System – Unified Payments Interface (UPI) and Domestic Card Scheme – RuPay, outside of India.
NPCI has successfully developed and proved its product and technological capabilities in domestic market by transforming payment segment in India. Conversely, there are several countries that want to establish a ‘real-time payment system’ or ‘domestic card scheme’ in their own country. NIPL, with its knowledge and experience, can offer these countries technological assistance through licensing, consulting for building real-time payment system to meet the rapidly evolving need of fast-growing global business.
NIPL is focused on transforming payments across the globe with the use of technology and innovation. It will not only enable payment for Indians but also uplift other countries by enhancing their payment capabilities through technological assistance, consulting and infrastructure.
© Press Release 2021