Arab Financial Services (AFS) announced its SME Partner Programme in collaboration with Visa to launch prepaid cards for businesses in Bahrain and Oman
Arab Financial Services (AFS), a digital payment solutions provider and fintech enabler in the Middle East and Africa, and Visa jointly announced they would launch prepaid B2B cards for businesses in Bahrain and Oman, within the frameworks of their SME Partner Programme.
Being a prominent merchant acquirer in Bahrain and Oman, AFS offers digital payment acceptance solutions and services in both markets. The company’s collaboration with Visa will enable digitizing merchant settlements through prepaid cards and launching digital credentials for AFS’s large merchant base in both countries.
The strategic partnership showcases the first B2B use case for prepaid cards in the two markets, and the companies plan to expand this offering to other regions of the Middle East and Africa.
Regulated by The Central Bank of Bahrain, and majority-owned by Bank ABC, AFS offers debit, credit, and Islamic card processing, merchant acquiring, digital mobile wallets, fintech, and a suite of state-of-the-art value-added services. The company has offices and data centres in Bahrain, Egypt, Oman, and the UAE.
Last year, Visa collaborated with PopID, a consumer authentication service, to launch facial verification payment acceptance in the Middle East region.