FOO, an award-winning B2B fintech solutions provider headquartered in the UAE, has marked a new stage in its long-standing partnership with BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions services. The collaboration has supported the continued development of BenefitPay, the Kingdom of Bahrain’s National Wallet.
BenefitPay is Bahrain’s most widely adopted fintech platform, serving more than 1.3 million active subscribers and enabling them to make payments and transfer funds. The platform records 1.7 million app visits daily and has processed more than 1.9 billion transactions (Fawri, Fawri+ and Fawateer) to date. As the technology provider, FOO implemented the Digital Wallet and Digital Merchant Platform, enabling BENEFIT to deliver essential digital services that help people across Bahrain manage their everyday financial transactions.
The long-standing partnership recently marked the completion of 100 Change Requests (CRs), each introducing new features or technical improvements designed to improve the user experience. These developments have included a UI/UX redesign, additional backend integrations, and strengthened security measures. Most recently, FOO introduced a capability that lets users access their personal QR code directly from the BenefitPay homepage, streamlining transfers and payments.
Mr. Yousif Al Nefaie, Deputy Chief Executive of Business Development and Services at BENEFIT, said: “The pace of development achieved through this partnership reflects the strong alignment, mutual trust and close collaboration between our teams. Together, we have established the capabilities needed to continually advance BenefitPay and deliver secure,
innovative digital solutions that respond to evolving customer needs. Bahrain’s financial services sector is among the most advanced in the GCC, and we remain committed to introducing new capabilities that support the Kingdom’s digital transformation.
“BenefitPay represents a shared success for BENEFIT, FOO and the Kingdom of Bahrain. Our long-standing collaboration has enabled us to develop a secure, reliable platform that allows users to complete everyday financial transactions with ease. We will continue to advance BenefitPay in response to changing customer expectations and Bahrain’s rapidly evolving digital
financial landscape.”
Mr. Ghady Rayess, Co-Founder and Chief Executive Officer of FOO, commented: “Reaching the milestone of 100 CRs reflects what can be achieved through deep collaboration, relentless innovation and a strong strategic partnership. At FOO, we’re committed to driving the cutting- edge transformation of financial services by streamlining transactions and delivering advanced digital payment solutions. Our teams have worked closely together to introduce features that improve the user experience and extend the value that digital financial services can deliver, while supporting the Kingdom of Bahrain’s vision for a cashless economy.”
FOO’s White-Label, Digital Wallet Platform brings together advanced digital payment capabilities to provide a secure, seamless and scalable wallet experience. More than 20 financial services have been integrated into BenefitPay, enabling users to transfer money internationally, split expenses, distribute funds to multiple recipients in a single transaction,
complete the electronic equivalent of a paper cheque transaction, request money from contacts, and make payments using QR codes, Tap and Go, online checkout and in-app payment services.
FOO’s AI-powered Identity Verification solution also enables BENEFIT to identify and verify customers by authenticating identity documents and automatically performing face matching. This helps prevent fraud, protect transactions and support regulatory compliance. Secure contactless payments are enabled through the tokenization of credit, debit and prepaid card credentials. This process replaces sensitive payment information with secure digital tokens, providing an additional layer of protection.
About FOO:
FOO is an award-winning, B2B Software as a Service (SaaS) solutions provider, headquartered in the UAE, that specializes in empowering businesses through digital transformation. FOO provides innovative fintech solutions, built entirely in-house, that optimize digital capabilities for clients across diverse industries and enable them to deliver an unparalleled user experience. FOO works with banks, fintech companies and key retailers across the MENA region, including Mastercard, Visa, BENEFIT, Zain Group, PwC and MAF. FOO’s innovative platform is modular, built on digital microservices that can be assembled to meet the specific requirements of each client. This approach, coupled with extensive regional experience, enables FOO to create super personalized digital products with a fast time to market. FOO’s key products include
solutions for remittances, digital wallets, tokenized transactions, fully automated micro-lending
and BNPL.
