WE ARE BENEFITBahrain’s Electronic Network for Financial Transactions
Who We Are?
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.
To shape the future of society through innovative digital solutions.
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:
Cutting Edge Technology
Focused Strategic Planning
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.
ATM & POS
ATM & POSApril 26, 1997
GCCNet ATMJanuary 1, 1999
Direct DebitJanuary 1, 2002
CRBJanuary 1, 2005
Payment GatewayJanuary 1, 2006
Internet Banking Shared Platform
Internet Banking Shared PlatformJanuary 1, 2008
SINNAD & GCCNet Dispute System
SINNAD & GCCNet Dispute SystemJanuary 1, 2009
BCTSJanuary 1, 2012
CRB CorporateJanuary 1, 2013
GCCNet POS, Mobile Bill Payment
GCCNet POS, Mobile Bill PaymentJanuary 1, 2014
EFTS (Fawri & Fawri+)
EFTS (Fawri & Fawri+)January 1, 2015
EFTS Fawateer – BCRB customer service
EFTS Fawateer – BCRB customer serviceJanuary 1, 2016
BenefitPay, BCRB government
BenefitPay, BCRB governmentJanuary 1, 2017
Fintech LABJanuary 1, 2018
Know your customer electronically (E-KYC)
Know your customer electronically (E-KYC)January 1, 2019
E-chequeJanuary 1, 2021