BENEFIT to power RuPay acceptance at ATMs and POS across Bahrain
By Leandra Monteiro
NPCI International Payments Ltd has collaborated with BENEFIT, Bahrain’s innovator and a leading company in FinTech and electronic financial transactions service to enable RuPay acceptance at ATMs and Point of Sale (PoS) terminals across Bahrain.
RuPay is the Global Card payment network from India, conceived and operated by the National Payments Corporation of India (NPCI). With over 635 million cards issued to date, it is a self-reliant card payments network with innovative features that has made it a successful interoperable card. RuPay is also continuously innovating through use-cases like contactless payments through NFC and other evolving payment technologies like Wearables, Tokenization, etc. These technologies enable consumers to securely use their phones to make card payments without disclosing their sensitive card details.
The collaboration between National Payments Corporation of India (NPCI), an umbrella organisation for all retail payment systems in India, and BENEFIT, a key conduit for all electronic financial transactions throughout Bahrain, will see Indian travellers transact via their RuPay cards across 515 ATMs and 40K Point of Sale (PoS) terminals in Bahrain. BENEFIT will be working with their Member Acquirers to ensure enablement of all NPCI’s Issuer Identification numbers (IINs) on all card acceptance channels in BENEFIT’S Network.
Mr. Abdulwahed AlJanahi, CE-Benefit commented, “It is with great pride that we announce our collaboration with NPCI for RuPay, we believe that this tie-up with BENEFIT will bring significant advantage to their customers as it will enable users to get the most of our outstanding electronic payment solutions across the Kingdom. This cooperation with other prime markets for FinTech, like India, will allow us to serve a wider range of customers and create a more cashless society since we play an important role in innovating financial transactions in Bahrain. And we would like to thank the Central Bank of Bahrain for their support to achieve this milestone.”
Ritesh Shukla, CEO, NIPL said, “At NIPL, we are dedicated to strengthening foothold of our card scheme – RuPay in international markets. We constantly strive to offer an evolved and personalised shopping experience to the customers and drive digital payments acceptance across the globe with our cutting-edge technology. We look forward to a continued collaboration with BENEFIT, which will empower Indian travellers and the large Indian community in Bahrain. We aim to create an end-to-end value proposition for RuPay Cardholders to make their Bahrain travel experience seamless and memorable.”
IBSi Daily News Analysis
January 27, 2023
Embedded finance, Web3 to trigger FinTech investment in 2023 amid looming recessionRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage