BENEFIT, one of the Kingdom’s leading innovators in fintech and electronic financial transaction services, has announced the launch of its new “Scheduled Transfers” feature through the BenefitPay app, under the Central Bank of Bahrain’s directive. The launch marks a further step in the continued development of Bahrain’s digital payments ecosystem and the delivery of innovative solutions that simplify the management of users’ everyday financial transfers.
The new feature allows users to schedule money transfers in advance through Fawri and Fawri+, offering a more convenient and efficient experience by removing the need to manually initiate each transaction every time. Users can set transfers at flexible intervals, including daily, weekly, biweekly, or monthly, to the same beneficiary, whether through mobile numbers or IBANs.
The feature also gives users the option to set periodic reminders instead of automatic execution, providing greater flexibility in managing financial obligations according to personal preferences, while supporting more accurate and organized financial planning.
Mr. Ahmed AlMahri, Assistant General Manager, Business Development & Services at BENEFIT, commented: “Scheduled Transfers represents a valuable addition to BENEFIT’s digital services ecosystem, giving users greater ability to manage their recurring financial transfers with ease and flexibility, whether through automatic execution based on a selected schedule or through periodic reminders. The feature has been tailored to help users organize their daily financial obligations more efficiently, while saving time and effort and enhancing a smoother and more reliable payment experience through digital financial services.”
Mr. AlMahri further added: “This initiative builds on BENEFIT’s ongoing journey in developing more advanced and seamless digital payment solutions, supported by security and efficiency, and responsive to the evolving needs of individuals and institutions. It also contributes to enhancing the readiness of Bahrain’s payments infrastructure and supporting the transition towards a more connected and effective digital economy. This aligns with the directives of the Central Bank of Bahrain to advance digital payment infrastructure, improve efficiency and transparency, and reinforce the Kingdom’s position as a leading hub for financial innovation and excellence.”
