Latest news with #BenefitPay
Zawya
3 days ago
- Business
- Zawya
BENEFIT announces the increase of daily transfer limit via Fawri+ to BD 3,000 per account under the Central Bank of Bahrain's directive
BENEFIT, Kingdom's innovator and leading company in Fintech and electronic financial transactions service, has announced an increase in the maximum daily transfer limit for Fawri+. This update follows the directive issued by the Central Bank of Bahrain to BENEFIT and banks to raise the daily cap for Fawri+ from BD 1,000 to BD 3,000 per account effective on Monday, 21st July 2025. With this new enhancement, customers are now able to transfer up to BD 3,000 to recipients in seconds using the BenefitPay app or through any bank offering the Fawri+ service. This marks a substantial advancement in the digital payment experience and underscores the ongoing digitization of Bahrain's financial services sector. The increase directly addresses the growing demand for instant payment solutions and the evolving expectations of users within today's dynamic financial landscape. It also aligns with Bahrain's broader national agenda to advance financial inclusion and enable seamless, efficient transactions. This initiative reflects BENEFIT's continued commitment to adopting cutting-edge FinTech and delivering services that combine speed, security, and operational efficiency.
Gulf Insider
11-07-2025
- Business
- Gulf Insider
Expat Woman Falls Victim To Online Car Scam
An expatriate woman in Bahrain has come forward to share her painful experience after falling victim to an online car sale scam. The 40-year-old, who filed a case with the police, is urging others-especially fellow expats-to be cautious when dealing with online advertisements and installment car sales. Speaking to News of Bahrain, she explained how a group of individuals posed as agents selling vehicles on installment plans through social media and other online platforms. 'They told us the car was available for BD400 as a down payment and BD50 as a monthly installment. We saw the car, even went for a test drive. Everything seemed fine,' she said. She and her family paid BD50 in advance and agreed to meet the following morning to finalize the contract. But what happened next left them shocked. 'The next morning, the so-called agent asked us to send the remaining BD350 through BenefitPay. He said he would bring the agreement immediately. But after receiving the money, he disappeared. He stopped answering our calls and blocked all communication.' Now, heartbroken and financially strained, she is warning others not to fall for similar traps. 'We are expats. We work hard to earn our money. Please be careful and don't trust such deals without proper verification,' she said. The matter is currently under police investigation. Victims are urging others to spread awareness and avoid any unofficial or suspicious car sales online. Also read: Bahrain: Court Orders Dealer To Repay BD6,800 After Car Sale Dispute
Daily Tribune
10-07-2025
- Daily Tribune
Expat Woman Falls Victim to Online Car Scam, Warns Others to Stay Alert
An expatriate woman in Bahrain has come forward to share her painful experience after falling victim to an online car sale scam. The 40-year-old, who filed a case with the police, is urging others—especially fellow expats—to be cautious when dealing with online advertisements and installment car sales. Speaking to News of Bahrain, she explained how a group of individuals posed as agents selling vehicles on installment plans through social media and other online platforms. 'They told us the car was available for BD400 as a down payment and BD50 as a monthly installment. We saw the car, even went for a test drive. Everything seemed fine,' she said. She and her family paid BD50 in advance and agreed to meet the following morning to finalize the contract. But what happened next left them shocked. 'The next morning, the so-called agent asked us to send the remaining BD350 through BenefitPay. He said he would bring the agreement immediately. But after receiving the money, he disappeared. He stopped answering our calls and blocked all communication.' Now, heartbroken and financially strained, she is warning others not to fall for similar traps. 'We are expats. We work hard to earn our money. Please be careful and don't trust such deals without proper verification,' she said. The matter is currently under police investigation. Victims are urging others to spread awareness and avoid any unofficial or suspicious car sales online.
Zawya
02-06-2025
- Business
- Zawya
Bahrain Bourse, Benefit launch eIPO service on BenefitPay
Bahrain - Benefit, the kingdom's innovator and leading company in fintech and electronic financial transactions service, has signed a strategic co-operation agreement with Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, to launch eIPO Service (electronic initial public offering service) on BenefitPay. This initiative marks a significant advancement in streamlining investor access to public share offerings on the Bahrain Bourse, said a statement from Benefit. The new feature within the BenefitPay application, expected to be launched in Q4, will provide a fully integrated digital platform that enables users to subscribe to IPOs listed on the Bahrain Bourse. With its intuitive and user-friendly interface, the service will ensure a smooth end-to-end experience - from registration through to payment - while offering detailed and up-to-date information on available public offerings. This enhancement aims to provide retail investors with streamlined access to investment opportunities, improving both accessibility and overall user convenience. Shaikh Khalifa bin Ebrahim Al Khalifa, the CEO of Bahrain Bourse and Vice Chairman & Managing Director of Bahrain Clear, said: "We are pleased to collaborate with Benefit - an instrumental force in advancing Bahrain's digital financial infrastructure - to expand the reach of our eIPO services through the BenefitPay platform." "The eIPO service provides a secure, streamlined process for submitting and managing IPO subscription applications. Integrating this service within BenefitPay represents a strategic evolution in our efforts to enhance investor accessibility, simplify the subscription process, and foster greater public participation in capital market opportunities," he stated. Shaikh Khalifa said that the eIPO platform is set to further complement current service offering by Bahrain Clear, and aims to be aligned with the key objective of Financial Services Sector Development Strategy (2022-2026). Benefit CEO Abdulwahed AlJanahi said: "We are pleased to announce this strategic partnership with Bahrain Bourse, which represents a major step forward in advancing digital financial services across the kingdom. By integrating eIPO functionality into BenefitPay, we are enabling individual investors to subscribe to IPOs more efficiently, securely, and transparently." "This service simplifies the subscription process and encourages broader investor participation in IPOs—solidifying Benefit's role as a key enabler of digital transformation within the Bahrain Bourse and the wider financial ecosystem," he stated. AlJanahi said: "This initiative underscores Benefit's ongoing efforts to support the Kingdom of Bahrain's dynamic digital transformation within the banking and financial services sector. We remain dedicated to continuously enhancing the capabilities of the BenefitPay platform by introducing forward-looking features that promote financial inclusion and encourage a more informed and engaged investment community." "We are confident that this collaboration will play a meaningful role in increasing investor participation and further strengthening the capital market ecosystem," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
01-06-2025
- Business
- Zawya
Bahrain Bourse and BENEFIT partner to launch eIPO service on BenefitPay
BENEFIT, the Kingdom's innovator and leading company in Fintech and electronic financial transactions service, has signed a strategic cooperation agreement with Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, to launch eIPO Service (electronic initial public offering service) on BenefitPay. This initiative marks a significant advancement in streamlining investor access to public share offerings on the Bahrain Bourse. The new feature within the BenefitPay application, expected to be launched Q4 2025, will provide a fully integrated digital platform that enables users to subscribe to IPOs listed on the Bahrain Bourse. With its intuitive and user-friendly interface, the service will ensure a smooth end-to-end experience—from registration through to payment—while offering detailed and up-to-date information on available public offerings. This enhancement aims to provide retail investors with streamlined access to investment opportunities, improving both accessibility and overall user convenience. Shaikh Khalifa bin Ebrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse and Vice Chairman & Managing Director of Bahrain Clear stated 'We are pleased to collaborate with BENEFIT—an instrumental force in advancing Bahrain's digital financial infrastructure—to expand the reach of our eIPO services through the BenefitPay platform. The eIPO service provides a secure, streamlined process for submitting and managing IPO subscription applications. Integrating this service within BenefitPay represents a strategic evolution in our efforts to enhance investor accessibility, simplify the subscription process, and foster greater public participation in capital market opportunities.' 'The eIPO platform aims to further complement current service offering by Bahrain Clear, and aims to be aligned with the key objective of Financial Services Sector Development Strategy (2022-2026),' Shaikh Khalifa added. Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi, stated: 'We are pleased to announce this strategic partnership with Bahrain Bourse, which represents a major step forward in advancing digital financial services across the Kingdom. By integrating eIPO functionality into BenefitPay, we are enabling individual investors to subscribe to IPOs more efficiently, securely, and transparently. This service simplifies the subscription process and encourages broader investor participation in IPOs—solidifying BENEFIT's role as a key enabler of digital transformation within the Bahrain Bourse and the wider financial ecosystem.' Mr. AlJanahi further added, 'This initiative underscores BENEFIT's ongoing efforts to support the Kingdom of Bahrain's dynamic digital transformation within the banking and financial services sector. We remain dedicated to continuously enhancing the capabilities of the BenefitPay platform by introducing forward-looking features that promote financial inclusion and encourage a more informed and engaged investment community. We are confident that this collaboration will play a meaningful role in increasing investor participation and further strengthening the capital market ecosystem.'
