Latest news with #PrimaryAccountNumber
Zawya
15-04-2025
- Business
- Zawya
QIB launches Visa+ to simplify international money transfers
QIB first bank in Qatar to launch Visa+ (Visa Direct Alias Directory) for customers Doha, Qatar – Qatar Islamic Bank (QIB), Qatar's leading digital bank, has partnered with Visa, a global leader in digital payments, to become the first bank in Qatar to launch the Visa+ (Visa Direct Alias Directory) for its customers. This innovative service offers QIB's customers a more convenient, secure and faster way to send money to Visa cardholders within GCC, marking a significant shift in the remittance and money transfer landscape in Qatar. With Visa+, the bank's customers can transfer funds to Visa cardholders in other countries using the recipient's alias - a mobile number. This eliminates the need for the recipient to share sensitive information like a 16-digit debit card number (Primary Account Number or PAN), making the process more secure and convenient. The initial phase of the partnership will focus on enabling seamless cross-border transfers from QIB's customers in Qatar, Emirates NBD in UAE and from Bahrain Islamic Bank and Khaleeji Bank customers (through BenefitPay) in Bahrain. This strategic move marks the first step in building a broader ecosystem that will connect multiple banks across markets in GCC soon. Commenting on the partnership, Mr. D. Anand, QIB's General Manager – Personal Banking Group, said: We are pleased to partner with Visa to be the first bank in Qatar to launch the Visa+ (Visa Direct Alias Directory) for our customers. This partnership highlights our commitment to providing fast, secure and more convenient way to send money through our award winning QIB Mobile App. At QIB, we are committed to provide our customers with innovative solutions to fulfill their financial needs and more. "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with Qatar Islamic Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Qatar. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Shashank Singh, Visa's Vice President and General Manager for Qatar and Kuwait. For financial institutions, enabling Visa+ can help create a better money movement experience—and improve protection of privacy—for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About QIB Established in 1982, Qatar Islamic Bank (QIB) stands as Qatar's pioneering Islamic institution as the second largest bank in the country. It provides a diverse array of banking products and services catering to both individuals and businesses. QIB's dedication to innovation, customer contentment, and upholding the utmost ethical standards has positioned it as a reputable and trusted financial institution in Qatar.
Gulf Insider
15-04-2025
- Business
- Gulf Insider
Visa Enables Money Transfers through BenefitPay by Mobile Number in Bahrain
Visa, has introduced Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank during its initial phase, making the Kingdom one of the first global markets to offer Visa+. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias – a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number – PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally. Commenting on the launch of the service, Abdulwahed AlJanahi, the Chief Executive of BENEFIT, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing BENEFIT to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' 'At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally,' said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience—and improve protection of privacy—for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers.
Zawya
15-04-2025
- Business
- Zawya
Visa enables money transfers by mobile number in Bahrain
Visa, a global leader in digital payments, has introduced Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service, made available through Benefitpay, is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank at the initial phase. Bahrain is one of the first global markets to offer Visa+, marking a significant milestone that highlights the market's readiness to embrace next-generation financial solutions and accelerate digital-first experiences, said Visa. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias - a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number - PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally, it said. Abdulwahed AlJanahi, the Chief Executive of Benefit, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing Benefit to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience — and improve protection of privacy — for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers, said Visa. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
14-04-2025
- Business
- Trade Arabia
Visa enables money transfers by mobile number in Bahrain
Visa, a global leader in digital payments, has introduced Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service, made available through Benefitpay, is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank at the initial phase. Bahrain is one of the first global markets to offer Visa+, marking a significant milestone that highlights the market's readiness to embrace next-generation financial solutions and accelerate digital-first experiences, said Visa. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias - a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number - PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally, it said. Abdulwahed AlJanahi, the Chief Executive of Benefit, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing Benefit to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience — and improve protection of privacy — for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers, said Visa. - TradeArabia News Service
Zawya
14-04-2025
- Business
- Zawya
Visa enables money transfers through BenefitPay by mobile number in Bahrain
Manama, Bahrain – Visa, a global leader in digital payments, introduces Visa+ service in Bahrain, allowing users to send money to Visa cardholders within GCC using only recipient's mobile number. The innovative service is available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank at the initial phase. Bahrain is one of the first global markets to offer Visa+, marking a significant milestone that highlights the market's readiness to embrace next-generation financial solutions and accelerate digital-first experiences. With Visa+, Bahrain Islamic Bank (BisB) and Khaleeji Bank customers can transfer funds to Visa debit and prepaid cardholders within other GCC countries using only the recipient's alias - a mobile number. This eliminates the need to share sensitive information such as a 16-digit debit card number (Primary Account Number - PAN) or IBAN, making the process more secure and convenient. The initial phase of rolling out Visa+ in the region focuses on enabling seamless cross-border transfers from BisB and Khaleeji Bank customers in Bahrain, Emirates NBD in UAE, and Qatar Islamic Bank in Qatar. This strategic move marks the first step in building a broader ecosystem that aims to connect multiple banks across markets in the GCC and eventually in Pakistan and EU countries; facilitating cross-border remittances for more senders and receivers globally. Commenting on the launch of the service, Abdulwahed AlJanahi, the Chief Executive of BENEFIT, said: 'Launching this service through our strong partnership with Visa represents an important step in enhancing innovation in the financial technology sector by providing an important service for cross-border money transfers between the GCC countries in the first phase and the rest of the world in the future. We thank Visa for choosing BENEFIT to launch this service. We also thank Bahrain Islamic Bank and Khaleeji Bank for its early joining of the service with us via the BenefitPay application, and we are working to include the rest of the banks in the near future.' "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally," said Ahmed ElKaffass, Visa's Country Manager for Bahrain. For financial institutions, enabling Visa+ can help create a better money movement experience—and improve protection of privacy—for both the sender and the receiver for a variety of use cases, including P2P (peer-to-peer payments), financing disbursements, and cross border remittances. Visa+ offers Visa's financial institution partners capabilities to expand their reach by connecting to an ever-evolving ecosystem of secure networks for an improved money movement experience for both financial institutions and their customers. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About BENEFIT BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom's financial services industry. BENEFIT is owned by Banks in Bahrain, regulated by the CBB, to provide innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors in the Kingdom of Bahrain and the Region. BENEFIT's range of services – supported by GCCNet in countries within the region – include operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet, The GCCNet Dispute Management System, Credit Reference Bureau (CRB), Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal, eCheque, EFTs, national eWallet (BenefitPay) and national eKYC Platform for the financial sectors, Bahrain Electronic Cheque, Wages Protection System, and Trust Services for digital signatures.
