Arab Financial Services and Spotii team up to launch “Buy Now Pay Later” in Bahrain
Manama, Kingdom of Bahrain: Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, has become the first acquirer in Bahrain to offer a Buy Now Pay Later solution to merchants in the Kingdom. This is thanks to its latest partnership with Spotii, a Dubai-based Buy Now Pay Later solutions provider.
Under this partnership, AFS will provide its distribution network to Spotii – through its large portfolio of acquiring merchants in Bahrain, leveraging Spotii’s expertise in executing solutions for the benefit of AFS participating merchants and of their customers. The Buy Now Pay Later solution enables businesses to reduce legacy systems and helps businesses generate more sales from every transaction while improving the customer experience and giving customers more control over their spending. The Buy Now Pay Later solution enables retailers to offer their customers a simple and seamless alternative to traditional payments for higher value purchases through four no-fee installment plans. This solution is available to all credit and debit card holders in Bahrain and is not limited to an individual bank.
Spotii is a digital payment platform providing a Buy Now Pay Later solution with a large portfolio of merchants across the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA). The platform allows consumers to pay for their purchases in installments and without interest.
“Spotii, in partnership with AFS, is thrilled to introduce Bahrain’s first Buy Now Pay Later solution, allowing customers to seamlessly split their purchases across 4 free installment plans. Buy Now Pay Later is booming in the scale – and Bahrain is a key market for the digital evolution in the region,” said Anuscha Iqbal, CEO and Co-Founder of Spotii. The rapid adoption of digital has accelerated the need to provide innovative new solutions to both merchants. and consumers, and Spotii is at the forefront of this empowerment with our partners.
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, financial technology 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 Fintech enabler. Regulated by the Central Bank of Bahrain, our groundbreaking end-to-end payment services and solutions cover card processing, merchant acquiring, Fintech and a suite of state-of-the-art 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.
Visit www.afs.com.bh for more information and join the conversation on LinkedIn.
spotiiis a leading BNPL provider based in the GCC, founded in 2020 by Anuscha Iqbal and Ziyaad Ahmed. Launched with a mission to empower a generation to enjoy more today what they will love forever through technology, trust and inclusion today. Spotii’s proprietary risk algorithm has allowed the company to grow rapidly while expanding its product offering across a wide range of industry verticals.
Spotii is part of ASX-listed Zip Co Limited (Z1P:ASX) or (“Zip”), a leading global financial services company, delivering innovative people-centric products that bring customers and merchants together . Aiming to be the first payment choice everywhere, every day, Zip offers point-of-sale credit and digital payment services in 13 markets around the world, including through strategic investments, connecting millions of customers to its global network of tens of thousands of merchants.
One of the fastest growing BNPL providers in the world, Zip has operations in Australia, Canada, Czech Republic, India, Mexico, New Zealand, Philippines, Poland, Saudi Arabia, South Africa, United Arab Emirates, United Kingdom and United States.
Zip provides fair, flexible and transparent payment options to individual consumers and SMBs, helping them take control of their financial future and helping merchants grow their businesses. Zip is committed to responsible lending and owns Pocketbook, a leading personal financial management tool. Founded in Australia in 2013, Zip today employs over 1,000 Zipsters worldwide.
For more information about Zip, please visit: www.zip.co
For more information on Spotii, please visit: www.spotii.com
© Press Release 2022