WE ARE BENEFITBahrain’s Electronic Network for Financial Transactions
Who Are We?
The BENEFIT Company was formed to enable the financial sector in Bahrain to forge strong and lasting connections with their customers from across a wide geographical base. Moreover, BENEFIT helps steer these connections towards enriching the value quotient in all of their interactions with member banks and other stakeholders.
As the key conduit for all electronic financial transactions throughout Bahrain, BENEFIT’s success has been made possible through a combination of skilled workforce, cutting edge technology, focused strategic planning and initiatives, and determination to provide the most modern financial service for those residing in Bahrain.
Benefit awarded as the fastest growing electronic payment solution at the International Finance Awards 2019
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BENEFIT’s Vision
To shape the future of society through innovative digital solutions.
BENEFIT’s Mission
With cutting-edge business and lifestyle solutions that are essential to everyday life, we inspire and energise individuals, institutions and society to unleash new opportunities.
BENEFIT’s success has been made through a combination of:
Skilled Workforce
Cutting Edge Technology
Focused Strategic Planning
Determination
How did it all start?
BENEFIT was established in November 1997 by 17 commercial banks as the National ATM and Point of Sale switch of Bahrain. It was initially licensed by the Central Bank of Bahrain (CBB) to be ‘the provider of ancillary services for the financial sector,’ and soon expanded to cover markets outside Bahrain.
- 1997
ATM & POS
ATM & POS
April 26, 1997 - 1999
GCCNet ATM
GCCNet ATM
January 1, 1999 - 2002
Direct Debit
Direct Debit
January 1, 2002 - 2005
CRB
CRB
January 1, 2005 - 2006
Payment Gateway
Payment Gateway
January 1, 2006 - 2008
Internet Banking Shared Platform
Internet Banking Shared Platform
January 1, 2008 - 2009
SINNAD & GCCNet Dispute System
SINNAD & GCCNet Dispute System
January 1, 2009 - 2012
BCTS
BCTS
January 1, 2012 - 2013
CRB Corporate
CRB Corporate
January 1, 2013 - 2014
GCCNet POS, Mobile Bill Payment
GCCNet POS, Mobile Bill Payment
January 1, 2014 - 2015
EFTS (Fawri & Fawri+)
EFTS (Fawri & Fawri+)
January 1, 2015 - 2016
EFTS Fawateer – BCRB customer service
EFTS Fawateer – BCRB customer service
January 1, 2016 - 2017
BenefitPay, BCRB government
BenefitPay, BCRB government
January 1, 2017 - 2018
Fintech LAB
Fintech LAB
January 1, 2018 - 2019
Know your customer electronically (E-KYC)
Know your customer electronically (E-KYC)
January 1, 2019 - 2021
E-cheque
E-cheque
January 1, 2021
