Batelco Financial Services and i2c have collaborated to launch Beyon Money, Bahrain’s first open banking super app.
Beyonce recently obtained a “first of its kind” open banking license from the Central Bank of Bahrain to support Bahrain’s communications service, Batelco.
Scheduled to be available by the end of the year, we will provide a digital wallet with a Visa debit card. Retail, billing, and peer-to-peer payments (Benefit thanks to integration with local switches). Connecting to a bank account via open banking. Financial insights; and digital money transfers.
It also develops card issuance and processing capabilities through i2c’s banking and payment platforms that integrate services with additional partners.
Aurangzaib Khan, general manager of i2c’s MEA region, says Beyon Money’s “foresighted team” is working to “rethink their country’s daily economic life.”
According to the World Bank’s Global Findex report, nearly one in five people in Bahrain do not have a bank account and the country enjoys a mobile penetration rate of 131%.
With this SuperAppli, Batelco says it aims to accelerate financial inclusion across the country. It will also be expanded to other countries in the near future.
Batelco and i2c release Beyon Money, an open banking superappli
Source link Batelco and i2c release Beyon Money, an open banking superappli