CBB at the forefront of innovation

May 29, 2018

 

MANAMA — A delegation from the Central Bank of Bahrain (CBB) visited Visa Innovation Center last May 15. The visit came in line with the CBB’s drive towards digitization and positioning the Kingdom of Bahrain at the forefront of payment innovation. The delegation was guided through Visa’s initiatives and experienced first-hand some of Visa’s innovative prototypes.

 

Known for being a forward-thinking regulator, the CBB has taken the front seat in instigating a progressive payment infrastructure and continuously explores the realms of cutting-edge innovation.

 

The launch of the Mobile e-Wallet “Benefit Pay” in 2017 marked yet another milestone in the Kingdom’s digital payments journey. The app, which was developed by the Benefit Company in its capacity as the Kingdom’s Payment Switch and Credit Bureau provides a wide range of services for both consumers and merchants supported by the QR Code scanning technology.

 

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