Visa, a global leader in digital payments, is stepping up its efforts to improve payment interoperability, enhance security, and support small business participation in digital commerce across Bahrain and the wider GCC.
Speaking on the sidelines of Fintech Forward 2026 at Exhibition World Bahrain, Visa’s Country Manager for Bahrain Ahmed Elkaffass outlined the multinational’s strategic priorities and its ongoing work with partners across the kingdom’s payments ecosystem.
Participating in Fintech Forward for the third consecutive year, Mr Elkaffass described the gathering as a vital platform for industry players.
“Fintech Forward offers a fantastic opportunity for regulators, financial institutions, fintechs, and regional players to connect and explore collaboration across Bahrain, the GCC, and beyond,” he said.
Supported by various government agencies and the Central Bank of Bahrain (CBB), Mr Elkaffass added that attendees gained direct insights into the kingdom’s rapid progress, from expanding tech talent hubs to heavy strategic investments.
He highlighted Bahrain’s collaborative financial ecosystem, emphasising that cooperation between regulators, financial institutions, fintechs, and payment networks is essential to advancing locally relevant payments innovation.
Referring to figures shared during the event, he highlighted that local partnership momentum has accelerated significantly year-on-year, with forum initiatives rising from around 40 last year to nearly 60 in this year’s edition, with Visa playing a key role in bringing innovative payment products to consumers.
Mr Elkaffass identified three clear priorities shaping the next phase of payments: improving interoperability, combining global capabilities with local requirements, and delivering a simpler, more transparent, and secure customer experience.
Mr Elkaffass with his team at Fintech Forward 2026
“Speed alone is not enough in today’s landscape,” he stressed. “Consumers and businesses also need greater clarity around fees, foreign exchange, timing, and what happens if something goes wrong. Delivering this experience requires shared standards, strong identity and security, and clear accountability across each hand-off.”
Mr Elkaffass explained that Visa’s primary role is to serve as an enabler and bridge within the financial sector.
“Visa’s role is to help connect different parts of the payments ecosystem, combine global capabilities with local requirements, and provide the trust layer behind a simpler customer experience,” he said.
A prominent local example is Bahrain Islamic Bank’s 2025 launch of Visa+ with Visa and Benefit. Eligible customers of participating financial institutions can use Visa+ to send money to eligible recipients across participating GCC markets using a registered mobile number, rather than entering full bank-account details.
Addressing growing cyber threats and payment fraud, Mr Elkaffass reaffirmed Visa’s commitment to security, noting that the company has invested more than $13 billion over the last five years in technology and infrastructure to help safeguard the global payments ecosystem.
Looking ahead, as commerce evolves toward agentic AI, AI-powered tools are expected to play a greater role in helping consumers search, compare and, with their permission, initiate or complete purchases.
“As agentic AI transforms how consumers shop, these automated experiences will strictly depend on strong authentication, robust security, and granular consumer controls to build and maintain trust,” Mr Elkaffass added.
Visa is also actively working with partners to support micro-merchants and small and medium-sized enterprises (SMEs) across Bahrain, both in accepting digital payments and in managing business payments and expenses.
On the acceptance side, Visa is working with financial institutions, acquirers, fintechs, and payment service providers to expand access to digital acceptance solutions that can reduce infrastructure and hardware barriers for micro-merchants.
Simultaneously, the payments leader is collaborating with financial institutions and fintechs on corporate and B2B solutions that support expense management, supplier payments, reporting, reconciliation, and domestic or cross-border business flows.
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