BENEFIT, the Kingdom’s innovator and leading company in electronic financial transactions, has announced a partnership with Bahrain Petroleum Company (Bapco) in cooperation with Bapco Retail Company to enable BenefitPay, the Kingdom’s national eWallet and widely popular electronic payment service, allowing Sadeem users to pay for fuel and recharge their accounts using BenefitPay starting from today, in line with government directives to encourage electronic payments, in addition to the public’s demand for electronic financial payments.
This partnership will open a new enrollment channel for Sadeem card through BenefitPay and eliminates the need for Sadeem existing users to carry their plastic cards with them, as this partnership will enable card holders to recharge their accounts digitally using BenefitPay, in addition to paying through application at refueling stations.
Sadeem card holders will be enabled to recharge their accounts through “Fawateer” on the BenefitPay application, where their cards will digitally appear to them. This partnership strengthens efforts to reduce the use of cash, especially at fuel stations, and move to cashless transactions, in line with national directives and precautionary measures to limit the spread of the Coronavirus (COVID-19) in the Kingdom.
Contributing to the success of this partnership, BENEFIT will be offering an exclusive offer of 10% cashback for service users purchasing fuel at Bapco Retail Stations, and a 5% cashback for service users purchasing fuel at any other fuel station amongst the 52 participating stations located throughout the Kingdom of Bahrain, to be deposited directly into the balance of their Sadeem account.
BenefitPay has witnessed a large increase in the percentage of individuals, commercial stores, and companies have adapted to electronic payments, yielding an unprecedented growth in electronic payments through the application. Fawri and Fawri+ witnessed a remarkable increase on a both a monthly and annual basis, additionally, Fawateer has achieved a growth of 153.9% during the month of March in comparison to March of 2019, reaching a total value of BD 34 million worth of transactions through this service.
Commenting on this occasion, Abdulwahed AlJanahi, CE of BENEFIT, said: “We are pleased to announce such quantum leap with Bahrain Petroleum Company (Bapco) and Bapco Retail Company, enabling the public to use the BenefitPay application to access Sadeem. This initiative is in line with our continuous efforts to provide a fully integrated electronic payments solution that meets the requirements of individuals and companies .And we would like to express our thank to the Central Bank of Bahrain for their continuous support .We at BENEFIT, are keen on adhering to all national directives to promote and encourage electronic financial transactions, to limit the spread of the Coronavirus (COVID-19).”
Bapco’s General Manager Marketing Khalid Buhazza, said: “In line with the government’s plans and the directives of H.E Shaikh Mohamed bin Khalifa Al Khalifa, Minister of Oil, as fueling stations are amongst the most businesses that use physical cash, this fruitful partnership provides the option of using electronic payments at refueling stations, protecting users and employees on site, in addition to contributing to achieving the national plans to encourage electronic financial payments and into a cashless society. Sadeem users can enjoy recharging and using their accounts without the need of carrying a physical card, which in return provides our valued customers with a higher level of customer satisfaction.”
Since its launch, BenefitPay has become widely recognized amongst the public and has become the Kingdom’s national electronic wallet. It distinguishes itself from others due to its ease of use for quick payments and funds transfers, providing users with a wide variety of services, making it the most desirable method of payment for over 370,000 registered users.