Batelco, Bahrain-based digital solutions provider and AFS, a leading payment services provider, have signed a memorandum of understanding (MoU) to roll out a modern mobile wallet solution in Bahrain. The MoU was signed by AFS Chairman Sael Al-Waary and Batelco Bahrain CEO Muna Al-Hashemi at Batelco headquarters in Hamala.
The innovative solution will help accelerate Bahrain’s journey toward a cashless digital society with added security for both consumers and merchants. A full range of integrated features will be available on the mobile wallet such as person-to-person money transfers and loyalty points in a secure and convenient manner for both consumers and merchants and many other services.
The mobile wallet will utilize the latest quick response (QR) technology and will have Near Field Communication (NFC) capability, allowing customers to tap and pay at participating outlets. The full solution will be rolled out in phases over the next few months.
Al-Hashemi said, “We are very excited to partner with AFS to launch the mobile wallet solution in Bahrain. This will enhance the lifestyles of customers by providing a convenient cashless, secure and agile payment method.”
“AFS is proud to partner with Batelco to launch the mobile wallet demonstrating Bahrain’s leading position in the mobile payment solutions in the Gulf Cooperation Council (GCC). This is a complement to AFS’ suite of digital products… and demonstrates Bahrain’s lead in the mobile-payment solutions in the region. It is another step to promoting cashless payments and financial inclusion putting Bahrain at the forefront of the FinTech revolution,” said Al-Waary.
The signing ceremony was attended by Batelco chief Marketing officer Mike Stanford, Batelco senior manager mobile services Husain Al-Aswad, AFS ceo B. Chandrasekar, AFS group head of strategy and Fintech Martin Roeske and AFS director of frictionless payments Business Shiraz Ali.
