Manama, Kingdom of Bahrain: As consumer preferences for digital payments grow rapidly, Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, once collaborated additionally with Bahrain’s first cloud-based digital provider, mobile-only bank, ila, which powers the new ila Blue and Switch credit cards.
A banking pioneer embracing cutting-edge technologies, ila Bank’s deep understanding of its customers’ needs is complemented by AFS’s agility to deliver the solutions of choice that customers and end users demand. The new ila Bank credit cards are designed as part of a seamless banking experience that revolves around customer needs and paves the way for end-to-end digital credit card applications. Blue and Switch credit cards from ila Bank offer a world of exciting and premium benefits to cardholders, including offers, cashback, lounge access and more.
Commenting on the collaboration, Samer Soliman, Managing Director of AFS, said, “AFS continues to work on innovation-driven partnership models to deliver distinctive products to its partners. In this effort, we are delighted to have collaborated with ila Bank to launch the ila Blue and Switch credit cards, two of the most rewarding credit cards in their own segment that offer a convenient, secure and frictionless payment experience. Our collaboration with ila Bank continues to expand AFS’ product footprint and increase the level of digital banking penetration in Bahrain, while further paving the way for a cashless economy.
AFS has been a partner of ila Bank since its creation in Bahrain in 2019, supporting it in the co-innovation of payment technologies. Today, AFS successfully deployed ATM activation, debit card processing, and ila Bank mobile application integration and services. The addition of credit card processing to this list marks an important step in the collaboration between the two partners. As the preferred partner of banks, challenger banks, financial institutions, fintechs and other payment players looking to digitally disrupt the traditional model of financial services, AFS is committed to delivering cutting-edge financial payment solutions focused on technology to its customers and to their end. -users, while developing the payment methods of tomorrow.
Mohamed Al Maraj, CEO of ila Bank, said, “With the exponential increase in the adoption of digital payments, consumers expect smart, simple and effortless payment experiences in e-commerce. We have witnessed this in the success of our debit card portfolio proven by the significant increase in online transactions. This paved the way for us to expand our product range, encouraging us to introduce our new credit cards, providing a fully digital user experience. We are delighted to work with AFS, one of our trusted partners, to continue our efforts to deliver innovative products that reflect changing customer needs.
“With the ila Blue and Switch credit cards, we are bringing a seamless product that not only offers exclusive benefits and rewards, but also holds the customer’s need for financial health and security at the epicenter,” added Al Maraj.
Regulated by the Central Bank of Bahrain and majority owned by Bank ABC, AFS offers many revolutionary end-to-end digital payment services and solutions. These cover debit, credit and Islamic card processing, merchant acquiring, fintech and a suite of industry-leading value-added services. Its dedication to innovation has positioned AFS as a market driving force offering a rich portfolio of payment solutions, including popular digital mobile wallets, market-leading merchant acquiring services, leading digital payroll solution from Bahrain, global contact centers and more. Providing the highest quality payment solutions that businesses trust, AFS has offices and data centers in Bahrain, United Arab Emirates and Oman.
As the brainchild of the banking industry in the MENA region, Arab Financial Services (AFS) exists to empower businesses and consumers by exploring, innovating and investing in superior technologies that help shape the future of financial experiences. . A subsidiary of Bank ABC, AFS is owned by 37 banks and financial institutions and serves more than 60 customers in more than 20 countries. Today, we are the region’s leading digital payment solutions provider and a Fintech enabler. Regulated by the Central Bank of Bahrain, our revolutionary end-to-end payment services and solutions cover card processing, merchant acquiring, Fintech and a suite of industry-leading value-added services. Our dedication to innovation has positioned us as a market driving force offering a rich portfolio of payment solutions, including popular digital mobile wallets: bwallet in Bahrain and eFloos in Oman; market-leading merchant acquiring services; Al Rateb, Bahrain’s leading digital payroll solution; global contact centers and more. Providing the highest quality payment solutions trusted by businesses, we have been recognized by Mastercard for the fastest contactless acquiring implementation in Bahrain in 2020, as “Leading Payment Solutions Provider MENA 2021 by International Business Magazine and as “Most Innovative Payment Solution Provider, 2021” by The Global Economic.
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© Press Release 2021