AFS mobile wallet to enable cashless payments in Bahrain
Payment services provider AFS has announced that it will launch a mobile wallet in Bahrain.
This mobile wallet will provide benefits to customers such as cash-back on purchases, cross-border remittances, loyalty points and wallet-to-wallet money transfers, in a secure and convenient manner.
“We are proud to launch the AFS Wallet in Bahrain, demonstrating our lead in FinTech in the region. This will contribute to promoting cashless payments and financial inclusion putting Bahrain at the forefront of the FinTech revolution. AFS will also be launching the mobile wallet with banks, telcos, retailers and other partners across the Middle East and Africa. The growth of digital banking globally is exponential, with an increasing number of digital wallets, and digital payment solutions, not only in the US and Europe, but across Asia, in India and China, contributing to financial inclusion,” said Sael Al Waary, Chairman of AFS.
It will also enable participating merchants to earn loyalty points, and conduct business-to-business money transfers. The AFS Wallet will utilise the latest Quick Response (QR) technology and will have near field communication (NFC) capability, allowing customers to tap and pay at participating outlets.
“With its unique features, the AFS mobile wallet will allow wallet-to-wallet money transfers and cross-border remittances, making payments smarter, faster, simpler and secure. AFS will be expanding the merchant network for the wallet, and introducing new features such as the QR code and NFC-based payments in Bahrain and the region,” said B Chandrasekhar, Chief Executive Officer.