Benefit, a key fintech and electronic financial transactions services firm in Bahrain, said it has won the ‘Smart Finance Award’ for one of its key application at the recently held Smart Cities Summit Bahrain 2021.
The 5th edition of the summit was held under the patronage of the Minister of Works, Municipalities Affairs and Urban Planning, Engineer Essam bin Abdullah Khalaf at the Gulf Convention Center, Manama.
The Bahrain Smart Cities Awards were first established in 2018 to recognise the best practices for smart and sustainable solutions implemented in the Kingdom of Bahrain and encourage others to follow this lead.
The two-day event was attended by more than 250 representatives from public and private sector entities, international organizations, including the United Nations Development Program (UNDP) and the United Nations Human Settlements Programme.
Benefit said it had won the ‘Smart Finance Award’ for the BenefitPay’s rollout of several cashless initiatives within the kingdom that have supported in nourishing sustainable growth in several ways by building a safer and more inclusive economy with less reliance on cash.
The app has streamlined payments, allowing users to access all their utility Bills and pay them in one place through ‘Fawateer’ which includes Telecoms, Electricity and water, charity and several other categories.
These solutions established a modern system for the country, with simplified access and modern tools for quick payments.
BenefitPay has also supported in digitising parking and improving urban living by activating BenefitPay for parking services, for more convenient options available to pay for parking in the Kingdom.
The application has also introduced several diverse features for online payments including QR code payment, Fuel payments throw Sadeem service, and Tap and Go, reducing our impact on the environment by paying bills electronically which saves time, money, and environmental costs.
Furthermore, BenefitPay developed e-commerce seamless payment options to simplify and encourage business, which was critical during the pandemic, such as cashless payment options for in-App and Web checkout for E-commerce merchants which allows businesses to conduct seamless business operations and easily accept payments from consumers wherever they are.
On the top honours, CEO Abdulwahed AlJanahi said: "At Benefit, we realise that digital payment solutions in smart cities are kickstarting an important evolution in human living spaces. With BenefitPay, we have contributed to creating a sustainable economy and payment ecosystem in a major way."
"Digital payments can make cities more liveable, enable a cash economy, and seamless experiences for everyday tasks such as bill payments, parking, and online services for individuals and businesses," he added.-TradeArabia News Service