Bahrain-based Sinnad, a subsidiary of The Benefit Company, said it has received its Mastercard licence, which will support its vision to expand into the kingdom as a payments service provider.

"Receiving the licence from Mastercard is a major milestone in Sinnad’s strategic expansion plan. Mastercard is one of Sinnad’s main offerings, and we have always aimed to diversify our services by adopting international schemes," said Rana Almaeeli, the general manager of Sinnad.

The Mastercard Licence will grant Sinnad an opportunity to better cater to our banks’ needs through a wide variety of services. We look forward to utilising this licence to its full capacity," he added.

“Based on the terms of the licence, Sinnad will not only be able to support local banks to process Mastercard cards, but we will also be able to issue Mastercard cards under our programs,” added Almaeeli.

Sinnad provides state-of-the-art solutions in cards processing to banks across the MEA region and will continue offering high-quality deliverables that cater to the needs of the business community.

Mastercard is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.-TradeArabia News Service