A new fintech product has been developed by Al Amthal Group for BFC Payments, enabling employers to pay wages digitally to their workers who are unable to create bank accounts.
Called BFC Pay, the digital payroll solution enables employers to securely upload wages onto payroll cards or mobile wallets through an online portal or at any BFC Bahrain branch and designated cash deposit machines (CDMs).
For companies, BFC Pay will help improve efficiencies and cut down operational time and expenses, while unbanked employees will get easier access to their wages and be able to easily withdraw funds.
Al-Amthal also developed a mobile app for BFC Payments that enables cardholders to view their statements, check their account balance as well as transfer and receive payment from other BFC Payments app users.
The launch was commemorated at Bahrain Fintech Bay (BFB) on 30th September 2019 in the presence of Anthony Langley, general manager of BFC Payments; Hany Al Deeb, regional country manager for Saudi Arabia, Qatar, Kuwait, Bahrain and Iraq at UPI; Khalid Saad, chief executive of BFB; Ali Arab, general manager of GPS; Hani Awachi, chief executive of Amthal Group; Rahul Bhalla, chief executive of Invita and Gopakumar Bhargavan, head of business development and operations, BFC Group.