BENEFIT Launches Digital Direct Debit via ‘Fawateer’ on BenefitPay

BENEFIT, the Kingdom’s leading FinTech and electronic financial transactions company, has announced the launch of its Digital Direct Debit service via “Fawateer” through the BenefitPay app. This move marks a major step in Bahrain’s digital payments transformation, offering a more advanced, secure, and efficient model for managing recurring financial obligations. The launch aligns with the Central Bank of Bahrain’s directives to strengthen Bahrain’s position as a regional hub for innovation in digital payments and FinTech.

The Digital Direct Debit service provides an advanced alternative to traditional paper-based procedures. It enables instant activation of mandates without manual processing or delays. Delivered through secure digital channels with verified customer credentials, the service enhances security and reduces the risk of fraud commonly associated with conventional methods.

For beneficiary entities, the service improves operational efficiency by automating authorization and collection processes, reducing reliance on manual data entry, and lowering administrative costs. It also minimizes the risk of human error and supports better cash flow management through automated collections processed on due dates.

For users, Digital Direct Debit offers a smooth and straightforward payment experience while promoting environmental sustainability through a fully paperless model. The service is a key enabler of innovation in areas such as FinTech, Open Banking, Open Finance, embedded finance, and account-to-account (A2A) payments, supporting the transition toward smart money and a more connected financial ecosystem in Bahrain.

The service is powered by an API-based interface that links billing and invoicing systems with customer-facing apps, enabling seamless payment processes. Customers benefit from greater flexibility in managing mandates, automated reconciliation, and integration with Enterprise Resource Planning (ERP) systems. The service also supports automation of accounting processes via ISO 20022, the international standard for exchanging financial data between institutions.

Mr. Abdulwahed AlJanahi, Chief Executive at BENEFIT, said the launch represents a significant milestone in Bahrain’s digital payments journey. “This initiative reflects BENEFIT’s commitment to delivering innovative and secure solutions that respond to market needs and support the transition to a digital economy. It aligns with the Central Bank of Bahrain’s directives to enhance digital payments infrastructure, improve efficiency and transparency, and reinforce Bahrain’s status as a leading center for FinTech innovation and excellence,” he said.