BENEFIT, Bahrain’s fintech and electronic financial transactions service provider, has signed a linkage agreement with NPCI International Payments Limited (NIPL) of India to enable interoperability between Bahrain’s Electronic Fund Transfer System (EFTS), particularly its Fawri+ service, and India’s Unified Payments Interface (UPI).
The initiative, overseen by the Central Bank of Bahrain (CBB) and the Reserve Bank of India (RBI), aims to enhance cross-border payment connectivity between the two countries.
It will allow users in both countries to make real-time, secure cross-border transfers.
Abdulwahed AlJanahi, Chief Executive of BENEFIT, said:
“The partnership underscores our commitment to delivering advanced digital payment services that support the national economy and expand economic relations between Bahrain and India.”
He added:
“BENEFIT continues to pursue its strategy of expanding its real-time payment network globally in line with the directives of the Central Bank of Bahrain and the Kingdom’s national strategies. These efforts aim to strengthen the digital economy and facilitate international trade and investment.”
Ritesh Shukla, MD and CEO of NPCI International Payments Limited, said:
“This collaboration will deepen financial connectivity, support cross-border payment innovation, and promote financial inclusion and economic growth for individuals and businesses in both countries.”
Featured image credit: BENEFIT
