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Arab Financial Services launches AFS Pay

Monday 4 September 2023 11:17 CET | News

Bahrain-based fintech enabler Arab Financial Services (AFS) has announced the launch of its second-generation digital payments solution, AFS Pay, a tap-to-phone service.

 

The introduction of AFS Pay marks the first solution in Bahrain to transform Android devices into smart Point of Sale (POS) terminals that enable contactless payment acceptance. The service seeks to eliminate the requirement for additional hardware, allowing businesses no matter the size to accept payments leveraging their own smartphones in an effortless manner.

Contactless payments and capabilities of the AFS Pay service

Based on the information detailed in the announcement, with AFS Pay, merchants are now able to provide a simplified and secure payment experience for their customers by simply downloading the AFS Pay app from the Play Store. The innovative solution helps support contactless-enabled Visa and Mastercard cards, permitting businesses to accept an extensive array of payment methods, including contactless debit and credit cards (Tap & Go), NFC devices of the likes of Samsung Pay and Apple Pay, as well as smart link payments.

AFS Pay's intuitive portal lets merchants review transaction reports, track transactions by type, access detailed transaction history, as well as raise queries. The platform stores transaction history for up to 6 months, offering valuable insights for business management. Additionally, merchants can share electronic receipts (eReceipts) with customers via SMS and email, providing an increasingly fast and eco-friendly shopping experience.

Arab Financial Services launches AFS Pay

What is more, AFS Pay adheres to high-security standards, boasting full PCI DSS compliance. Sensitive cardholder data remains secure, offering peace of mind to merchants and customers alike. Transactions are processed in a swift manner, helping ensure a simplified payment experience, and the service’s flexible and competitive pricing options aim to guarantee affordability for businesses no matter the size.

When commenting on the launch, Amira Ismail, AFS Head of Merchant Acquiring Business in Bahrain said that AFS Pay marks a step forward in the evolution of digital payment solutions, stating that the tech reflects the company’s commitment towards redefining the digital payments landscape and empowering businesses with smart, secure, and cost-effective tools. Per their statement, by transforming Android devices into POS terminals, AFS Pay enables merchants to improve their operational efficiency while providing customers with a frictionless payment experience. Additionally, merchants can accept payments anywhere, anytime, offering a convenient and mobile payment solution for customers and businesses alike. The spokesperson believes this flexibility to translate into enhanced customer satisfaction and improved sales.

Further adding on this, Malak Alsaffar, Visa’s Country Manager for Bahrain said that as more consumers are seeking digital, and especially contactless payment experiences, it is critical for businesses to expand their acceptance methods beyond cash. The official stated that AFS Pay is to help merchants in Bahrain change their physical shopping experience for consumers in an easy, cost-effective way, adding that they are looking forward to collaborating with AFS on the launch and supporting the Bahrain government’s cashless agenda.

A Central Bank of Bahrain-regulated and Bank ABC majority-owned company, AFS boats numerous end-to-end digital payment services and solutions spanning debit, credit, and Islamic card processing, merchants acquiring, fintech, and a suite of value-added services.


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Keywords: product launch, payments , paytech, POS, fintech, ecommerce, contactless payments, digitalisation
Categories: Payments & Commerce
Companies: Arab Financial Services
Countries: Bahrain
This article is part of category

Payments & Commerce

Arab Financial Services

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