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CrediMax, Benefit to explore BNPL best practice framework in Bahrain

MANAMA, February 4, 2023

CrediMax, a pioneering credit card issuer and acquirer in Bahrain, said it has signed a MoU with Benefit Company, a key fintech and electronic financial transactions services firm, to explore innovative business models for financing consumer products that is integrated into the customer shopping journey, thus elevating the customer’s financial digital experience.
 
The collaboration will entail that CrediMax will leverage its existing assets and its robust ecosystem of technical and financial partnerships, whereas Benefit will provide access to their APIs that would facilitate digital onboarding, credit assessment for instant credit offering, authentication and repayment. 
 
Furthermore, both CrediMax and Benefit, through their rich and robust teams’ of professionals, will jointly endeavour to explore “Buy Now Pay Later” financing best practice solutions with the aim of coming up with a recommended framework that will serve the BNPL ecosystem in Bahrain.
 
Benefit Company CEO Abdulwahed AlJanahi said: "We have always provided infrastructural services to facilitate digitization, we strive to maintain the lead in innovative financial services within the region."
 
"Enabling BNPL operation in the country is one of our strategic objectives and we are looking forward with this partnership for a successful implementation with CrediMax and other market players and credit providers and to enhance customer shopping experience," he noted.
 
CrediMax CEO Ahmed A. Seyadi said: "We are pleased with the strides we have made in our partnership with the Benefit Company over the years, and are proud to continue to do what we know and do best - provide excellent customer service and bring the most innovative and easy to use products and services that deliver superior value and quality to the financing eco-system."
 
"We look forward to a yet another successful achievement together through the BNPL framework," added Seyadi.-TradeArabia News Service



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