Arab Financial Services partners with Spotii to launch BNPL in Bahrain
By Leandra Monteiro
Arab Financial Services (AFS), a digital payment solutions provider and FinTech enabler in the Middle East and Africa, has become Bahrain’s first acquirer to enable a Buy Now Pay Later solution for the Kingdom’s merchants. This is through its latest partnership with Dubai-based, Buy Now Pay Later solution provider, Spotii.
As part of the partnership, AFS will provide its distribution network to Spotii – across its broad portfolio of acquiring merchants in Bahrain, leveraging Spotii’s expertise in solution execution to the benefit of AFS’s participating merchants and their customers. Buy Now Pay Later solution empowers businesses to cut through legacy systems and helps businesses drive more sales from every transaction while also enhancing the customer experience and giving customers more control over their spending. The Buy Now Pay Later solution enables retailers to provide their customers with a simple, transparent alternative to traditional payments for higher-value purchases through four cost-free instalment plans. This solution is available to all credit and debit cardholders in Bahrain and not limited to an individual bank.
Samer Soliman, Arab Financial Services, Chief Executive Officer said, “We have been focused on bringing Buy Now Pay Later to the Bahrain market for some time. I am delighted to now partner with a strategic player like Spotii to give AFS merchants the chance to provide their customers with flexibility on digital payment financing options and further deliver on a truly seamless shopping experience.”
Spotii is a digital payments platform providing Buy Now Pay Later solution with a large portfolio of merchants throughout the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA). The platform allows consumers to pay for their purchases in installments and interest-free.
“Spotii in partnership with AFS, is delighted to present Bahrain’s first Buy Now Pay Later solution, enabling customers to seamlessly spread their purchases over 4 cost free instalment plans. Buy Now Pay Later is booming globally – and Bahrain is a key market for digital evolution in the region,” said Anuscha Iqbal, CEO and Co-founder, Spotii. The rapid digital adoption has accelerated the need to provide new innovative solutions to both merchants and consumers alike, and Spotii is at the forefront leading this enablement with our partners.”