BENEFIT has introduced a Digital Direct Debit service through its BenefitPay app and “Fawateer” platform, offering a secure, paperless alternative to traditional recurring payment methods. The service allows instant activation of mandates without manual processing, enhancing efficiency and reducing fraud risk.
The initiative aligns with directives from the Central Bank of Bahrain to strengthen Bahrain’s position as a regional hub for digital payments and FinTech innovation. It automates authorization and collection processes for businesses, lowers administrative costs, improves cash flow management, and supports seamless integration with billing, ERP systems, and ISO 20022-compliant accounting standards.
Digital Direct Debit also provides users with a smooth, flexible payment experience while promoting sustainability through a fully paperless model. The service underpins broader innovation in areas such as Open Banking, Open Finance, embedded finance, and account-to-account payments, supporting Bahrain’s transition toward a smarter, more connected financial ecosystem.
