At the signing are, seated, Mr Mohammed, second from left, and AFS chief executive B Chandrasekhar, second from right, with other officials from both organisations
MANAMA: bWallet, a digital wallet and payment solution operated by AFS in partnership with Batelco, has announced a tie-up with insurance provider Solidarity Bahrain.
The agreement paves the way for cashless purchase of insurance products and services at any Solidarity office in Bahrain by users of bWallet.
Users can make secure payments by scanning a QR code or by making a peer-to-peer money transfer through their smartphones.
Solidarity, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, is the first insurance company to join the bWallet ecosystem.
AFS fintech business chief executive Shiraz Ali called the tie-up “a significant step forward as it marks the beginning of our journey into insurtech.”
“This is in line with our commitment to offer multi-sector, multi-product and multi-segment experience to our customers. We are excited to enable digital mobile payments for Solidarity, our first partner in the insurance sector, and also our esteemed customers,” he added.
Concurring with him, Batelco chief marketing officer Abderrahmane Mounir said Solidarity was a “welcome addition to the bWallet portfolio” as the bWallet operators were committed to providing services that “enrich and enhance consumers’ lifestyles and facilitate daily transactions”.
Solidarity Bahrain chief executive Jawad Mohammed said the partnership was a step forward for the firm in “leading the insurance industry’s innovative digital transformation and embracing fintech and insurtech”.
Source: Gulf Daily News