Benefit awarded 'Smart Finance Award' at Smart Cities Bahrain 2021

The 'Smart Finance Award' goes towards BenefitPay's rollout of several cashless initiatives within the kingdom

  
Benefit awarded 'Smart Finance Award' at Smart Cities Bahrain 2021

Manama, Bahrain - The kingdom’s leading regional player in electronic financial transactions; BENEFIT was awarded the ‘Smart Finance Award’ for the BenefitPay Application earlier this week at the two-day Smart Cities Summit Bahrain 2021 held in the Gulf Convention Center under the patronage of His Excellency the Minister of Works, Municipalities Affairs and Urban Planning, Eng. Essam bin Abdullah Khalaf.

The Bahrain Smart Cities Awards were first established in 2018 to recognize the best practices for smart and sustainable solutions implemented in the Kingdom of Bahrain and encourage others to follow this lead. The 5th Edition welcomed more than 250 representatives from public and private sector entities, international organizations, including the United Nations Development Program (UNDP) and the United Nations Human Settlements Program.

The ‘Smart Finance Award’ goes towards BenefitPay’s rollout of several cashless initiatives within the kingdom that have supported in nourishing sustainable growth in several ways by building a safer and more inclusive economy with less reliance on cash.

The app has streamlined payments, allowing users to access all their utility Bills and pay them in one place through ‘Fawateer’ which includes Telecoms, Electricity and water, charity and several other categories. These solutions established a modern system for the country, with simplified access and modern tools for quick payments.

BenefitPay has also supported in digitizing parking and improving urban living by activating BenefitPay for parking services, for more convenient options available to pay for parking in the Kingdom.

The application has also introduced several diverse features for online payments including QR code payment, Fuel payments throw Sadeem service, and Tap and Go, reducing our impact on the environment by paying bills electronically which saves time, money, and environmental costs.

Furthermore, BenefitPay developed E-commerce seamless payment options to simplify and encourage business, which was critical during the pandemic, such as cashless payment options for in-App and Web checkout for E-commerce merchants which allows businesses to conduct seamless business operations and easily accept payments from consumers wherever they are.

BENEFIT’s CE Abdulwahed AlJanahi “As BENEFIT, we realise that digital payment solutions in smart cities are kickstarting an important evolution in human living spaces. With BenefitPay, we have contributed to creating a sustainable economy and payment ecosystem in a major way. Digital payments can make cities more liveable, enable a cash economy, and seamless experiences for everyday tasks such as bill payments, parking, and online services for individuals and businesses.”

-Ends-

About BENEFIT

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 – include 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),Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal , national eWallet and national eKYC Platform for the financial sectors.

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