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COMMERCIAL NEWS

CrediMax, Benefit launch QR Code payment system

Mar 13, 2018 9:22 AM

CrediMax and Bahrain-based Benefit have collaborated to launch a unified QR Code payment option where MaxWallet and BenefitPay customers will be able to complete payments at registered merchants through...

CrediMax and Bahrain-based Benefit have collaborated to launch a unified QR Code payment option where MaxWallet and BenefitPay customers will be able to complete payments at registered merchants through their smartphones.

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. The company is owned by banks in Bahrain, regulated by the Central Bank of Bahrain (CBB), and provides innovative e-Payment products to the kingdom’s banks, retailers and consumers.

The MaxWallet and the BenefitPay applications work with a unified QR code payment feature, where customers can use the electronic payment process by scanning a QR code when purchasing from any of the registered merchants, while maintaining all the standards of safety and security throughout the whole process, said a statement.

Yousif Ali Mirza, chief executive, CrediMax, said: “This agreement comes in line with the national drive to stimulate innovation in online payments through MaxWallet or BenefitPay, providing secure and easy payments feature through smartphones, and we are confident that this agreement will be a value-added Benefit to our customers.”

“As part of this agreement, MaxWallet customers will be able to complete e-Payments with all registered merchants of BenefitPay and vice versa,” he said.

“There is an increased demand and use of both applications, which positively reflects the overall customer experience and the delivery of superior services, as well as expanding the scope of business partners registering on both applications,” he added.

Abdulwahed Al Janahi, chief executive officer, Benefit, said: “Today, the world is turning to innovative electronic alternatives to complete payments in different businesses.”

“We strive to comply with international standards to provide premium services, further positioning the kingdom as a leader in the industry,” he said.

“We have launched the BenefitPay application, giving customers the opportunity to make payments from all cards through one platform, with them aim to transform the Kingdom into a cashless society,” he added.

“Our primary objective in this agreement is to provide customers with a wider choice of e-payments through smartphones. With the expansion of incentives and targeted awareness programmes, we are confident that customers will more likely opt for digital wallets. We are working closely with all partners to provide the service with different businesses and government institutions, which will be announced soon” Al Janahi concluded. – TradeArabia News Service

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