Manama — In a major step toward accelerating Bahrain’s financial digitization, BENEFIT, the Kingdom’s leading FinTech and electronic financial transactions provider, has signed a Memorandum of Understanding (MoU) with Pay10, a Central Bank of Bahrain (CBB)-licensed Payment Service Provider, to advance interoperability, inclusion, and innovation across Bahrain’s payments landscape.
The MoU was signed during FinTech Forward 2025 at the Exhibition World Bahrain, in the presence of top FinTech leaders and innovators.
Seamless QR Interoperability and SME Enablement
The partnership enables Pay10’s dynamic QR technology to become fully interoperable with the BenefitPay app, allowing users and merchants to complete transactions effortlessly through their preferred digital wallets. This integration boosts nationwide digital payments adoption while promoting cashless convenience and financial inclusion.
For small and medium enterprises (SMEs), the collaboration introduces faster onboarding, lower transaction costs, and expanded access to digital payment solutions by integrating Pay10’s technology stack with BENEFIT’s infrastructure. The partnership will also unlock new business opportunities and improve competitiveness within the SME sector.
Enhanced Customer Experience and Cross-Border Capabilities
A deep-link integration will allow Pay10 users to switch seamlessly between the two apps for secure and frictionless payments. Pay10 will additionally leverage BENEFIT’s payment gateway, account-to-account transfers, and direct debit services, ensuring fast, reliable, and cost-effective transaction processing.
The collaboration will also extend cross-border payment services to BenefitPay users, positioning Bahrain as a regional hub for secure and interoperable financial transactions. Integrating BENEFIT’s electronic Know Your Customer (eKYC) system with Pay10’s platform will further enhance identity verification and streamline onboarding, reinforcing customer trust and ecosystem security.
“We are proud to enter into this strategic partnership with Pay10, which represents a forward-looking step in BENEFIT’s journey to support Bahrain’s national digital transformation roadmap in the payments sector,” said Abdulwahed AlJanahi, Chief Executive of BENEFIT.
“As a leading force in payments infrastructure, we continue to build partnerships that drive innovation and advance digital transformation in Bahrain and the wider region.”
Harry Gill, Chairman of Pay10, added: “By integrating our mobile-first payment infrastructure with BENEFIT’s trusted national network, we are enabling faster, more secure, and compliant transactions that empower consumers and businesses alike. Together, we aim to strengthen Bahrain’s role as a regional leader in digital payments and contribute to the growth of its digital economy.”
