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BFC Payments is pleased to announce the launch of its new and powerful BFC Pay app.
The enhanced app has a digital wallet that includes easy account opening using eKYC (electronic Know Your Customer) and can load money or receive salary directly.
The app enables customers to send international remittances, make local bill payments, wallet to wallet money transfer and much more using three different payment methods via the BenefitPay app, Benefit Payment Gateway and BFC Pay wallet.
BFC Payments, the Fintech arm of BFC Group, provides digital payments services for consumers, corporates as well as small- and medium-chain enterprises (SMEs).
One of the significant features on the new BFC Pay app is the digital wallet which complies with the Labour Market Regulatory Authority’s Wage Protection System (WPS) initiative that provides the unbanked sector in the kingdom with digital salary accounts.
The law, which requires employers to pay their employees through any medium that is licensed by the Central Bank of Bahrain, protects workers’ financial rights which are governed by their contracts of employment.
“Bringing superior and innovative customer experience to Bahrain’s FinTech space is part of our overarching strategy and BFC Pay is a major milestone towards it,” said BFC Payments business development, strategic partnerships and innovation head Davis D Parakal.
Mr Parakal
“While offering local and international payments to our banked customers, BFC Pay will be a salary account for the unbanked segment.
“Now our WPS digital payroll system works hand-in-hand with the new app which enables our corporate and SME clients to disburse the salary straight to our customers’ mobile wallet,” he explained.
The new BFC Pay App also enables users to remit money worldwide at great rates – quickly, safely and conveniently.
“This is a major digital leap for us and is part of the group’s significant commitment to invest in digital innovation,” said BFC chief executive officer Deepak Nair.
“With BFC powering international remittance on the BFC Pay app, we are delighted to extend our online money transfer services, increasing customer convenience,” he added.
The app comes with additional features such as secure biometric and PIN login, instantly adding and managing beneficiaries, keeping a track of remittance, bill payments and wallet transaction history, rates notifications and much more.
The BFC Pay app is available for download on the Google Play Store, the App Store and Huawei AppGallery.
Part of BFC Group, BFC Payments is one of the financial leaders in the region that has an international network of money exchanges across four countries.
The history of the companies that are incorporated under the group date back over 100 years, with Bahrain Financing Company (BFC) trading in gold bullion and continually growing its services.
For more information on BFC Payments, visit www.bfcpay.com or get in touch with BFC Payments on 17004548 or 17711775.
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