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Digital financial super app introduced by Batelco in Bahrain

The Beyon Money digital financial super app includes Visa Prepaid Cards, Stored Value Wallet, and Open Banking Connectivity, categorization of expenses and financial Insights and fully digital Remittances

In line with the strategy to move beyond its core business and venture into the world of Fin-Tech, Batelco, Bahrain’s leading telecom services operator has taken a major step forward by introducing its new digital financial super app – Beyon Money brand.

At a lavish event held at the Bahrain Four Seasons Hotel, the brand reveal took place in the presence of the Governor of the Central Bank of Bahrain Rasheed Mohammed Al Maraj.

The Beyon Money digital financial super app includes Visa Prepaid Cards, Stored Value Wallet, and Open Banking Connectivity, categorization of expenses and financial Insights and fully digital Remittances.

Connecting all the banks across the kingdom in one app, it is the first fully digital financial super app to deliver direct open banking access to consumers in Bahrain, said the statement from Batelco.

Users will have the ability to view all transactions with their banks and with their cards, as well as transact and transfer funds between accounts and into their digital wallet with ease.

Additionally, to access a wide range of financial products and services offered by several providers, Beyon Money is the only digital financial super app in Bahrain that will develop for its users a marketplace.

Batelco Chairman Shaikh Abdulla bin Khalifa Al Khalifa, who was joined by members of Batelco’s Board of Directors and members of Batelco’s executive team, welcomed the leading figures in the banking and fin-tech industry who attended the event, and thanked them for their presence and for supporting Batelco.

By establishing a new financial services company following the receipt of licenses awarded by the Central Bank of Bahrain, earlier this year Batelco announced its entry into the world of fin-tech, making it the first telco subsidiary in the GCC to achieve this milestone.

On the new brand, Shaikh Abdulla said, “The government in Bahrain, under the leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, has worked to create the ideal ecosystem for Innovation in Fin-Tech and the digital economy. Accordingly, this is the ideal time for us to launch this exciting brand, Beyon Money, in Bahrain and look forward to expanding the services in due course into the GCC”.

“Beyon Money will play a vital role in supporting the advancement of payments innovation and digital ecosystems by accelerating consumer digital adoption of financial solutions, anticipating the demand for seamless, fast and secure digital money flow”, he stated.

Beyon Money CEO Roberto Mancone said, “The market has seen exponential growth in Digital Payments across the Middle East with a rapid shift for consumers and merchants towards digital. BEYON Money’s mission is to make digital financial instruments more accessible, easy to understand, transparent and value driven, giving customers greater degrees of choice”.

The digital financial super app is available for pre-registration on since yesterday 02 December with full download of the digital financial super app available to clients that have accessed the waiting list for both IOS and Android by the end of the year, stated Mancone.

“At Beyon Money we are focused on delivering a customer centric experience that embeds several required financial services in one platform. With this new digital financial super app, we will establish and continuously evolve local and international partnerships for the digital marketplace aimed at creating value for clients across the GCC”, he added.

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khushbu Soni CIO News Mercadeo
Khushbu Soni
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