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AFS - Arab Financial Services - Bahrain
AFS is Bahrain’s First Acquirer to Obtain BENEFIT Switch certification for POS Contactless transactions
June 26, 2019
26 June 2019 - Manama, Kingdom of Bahrain
Arab Financial Services (AFS), the MEA region’s leading payment solutions provider and FinTech enabler, has become Bahrain’s first acquirer to successfully obtain the BENEFIT Switch certification for POS Contactless transactions. With this certification, AFS’ merchant acquiring services, which has rolled out the first Android-based POS terminals in Bahrain, is further revolutionizing the payments business by enabling contactless debit card payments on AFS POS terminals. AFS’ state-of-the-art acquiring solution already accepts contactless credit card payments.
Mr. B Chandrasekhar, Chief Executive Officer of AFS commented on the BENEFIT Switch certification: “We are delighted to now be the first POS acquirer in Bahrain with the BENEFIT Switch certification for Contactless POS transactions. This is a significant step forward in realizing our merchant acquiring vision, shaping the future of payments acceptance and leveraging our expertise to deliver the solutions of choice for businesses and consumers. Our cutting-edge and innovative payments solutions are transforming the payments landscape. With a full-fledged contactless POS acquiring, that caters to both debit and credit cards, we are further supporting the Kingdom’s vision of becoming a digital economy.”
AFS’ new, market-leading POS technology is already in Oman and Bahrain, giving merchants and customers access to state-of-the-art tools for payment that can easily integrate with merchant’s existing platforms. What were formerly complex, outdated payment systems are now seamless as AFS’ new payment technology brings all-in-one payment solutions that can support international and domestic payment schemes and FinTech payment options including contactless cards, NFC, QR, Apple Pay, Samsung Pay and mobile wallets (such as AFS’ award-winning mobile payments solution, bwallet).
Mr. Hassan Mayassi, CEO of AFS – Acquiring Business said: “We are dedicated to investing in the development of innovative and cutting-edge payments solutions for businesses and customers alike. Receiving the BENEFIT Switch certification for Contactless POS transactions reaffirms AFS’ commitment to enriching the digital experience and is a significant step forward in the merchant acquiring business - shaping the future of payments acceptance and leveraging our expertise to deliver the solutions of choice.”
AFS serves over 75 clients across the financial sector in more than 21 countries. A subsidiary of Bank ABC, it is owned by 37 banks and financial institutions and regulated by the Central Bank of Bahrain. The company offers innovative and end-to-end payment services and solutions that span card processing, merchant acquiring, FinTech and a state-of-the-art value-added services suite. AFS has offices and data centers in Bahrain, UAE and Oman, and was the first processor in the region to become Payment Card Industry Data Security Standard (PCI DSS) 3.2 certified. Recipient of several global awards, AFS has most recently been recognized as of ‘The Most Innovative FinTech Solution Provider 2018’ at the GCC Enterprise Awards 2018 and ‘Best Payment Service Provider – Bahrain 2017’ by Global Banking and Finance Review.