BENEFIT, Bahrain’s leading fintech and electronic financial transactions company, has announced a strategic partnership with Pay10, a Central Bank of Bahrain (CBB)-licensed Payment Service Provider, to significantly advance the Kingdom’s digital payments infrastructure. The Memorandum of Understanding (MoU) was formalized at the FinTech Forward 2025 conference, signaling a new phase of collaboration aimed at creating a more unified and efficient payments ecosystem.
Unifying Wallets with QR Interoperability
A cornerstone of the agreement is the full interoperability between Pay10’s dynamic QR technology and the widely-used BenefitPay application. This integration will enable consumers and merchants to conduct seamless transactions across various digital wallets, removing friction and promoting greater adoption of cashless payments throughout Bahrain. The partnership also includes a deep-link integration, allowing users to switch between the Pay10 and BenefitPay apps effortlessly for a secure and frictionless payment experience.
Empowering SMEs with Integrated Infrastructure
The collaboration is set to deliver substantial benefits to Small and Medium-sized Enterprises (SMEs) across the Kingdom. By connecting Pay10’s technology stack with BENEFIT’s robust national payment infrastructure, the partnership aims to lower transaction costs, accelerate merchant onboarding processes, and broaden access to modern digital payment solutions. This move is expected to empower smaller businesses to compete more effectively in Bahrain’s evolving digital economy. Abdulwahed AlJanahi, Chief Executive of BENEFIT, noted that the collaboration marks a major milestone, stating it “supports Bahrain’s national digital transformation roadmap in payments and strengthens its leadership as a regional fintech hub.”
Enhancing Security and Cross-Border Capabilities
Under the MoU, Pay10 will leverage several of BENEFIT’s core services, including its payment gateway, direct debit, and account-to-account transfer capabilities. Furthermore, Pay10 will extend its cross-border payment solutions to BenefitPay users, expanding the platform’s international reach. Security and trust will be enhanced through the integration of BENEFIT’s electronic Know Your Customer (eKYC) infrastructure, which will streamline identity verification and digital onboarding. Pay10 Chairman Harry Gill added, “By combining our mobile-first infrastructure with BENEFIT’s trusted network, we are enabling secure and compliant transactions that empower consumers and businesses, reinforcing Bahrain’s role as a digital payments leader in the region.”
About BENEFIT
BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as the Kingdom’s national ATM and Point of Sale switch. It is the main provider of ancillary services for the country’s financial sector, specializing in electronic payment solutions, information management, and business process outsourcing services.
About Pay10
Pay10 is a Payment Service Provider licensed by the Central Bank of Bahrain. The company offers a suite of digital payment solutions, including dynamic QR technology and a mobile-first infrastructure, designed to facilitate secure and efficient transactions for both consumers and businesses in the Kingdom.
Source: MEA TechWatch
