In a bid to revolutionize Bahrain’s commercial payments landscape, Bahrain Commercial Facilities Company (BCFC) and Mastercard announced a strategic partnership to launch commercial credit cards in the kingdom. The collaboration aims to introduce a Commercial Cards Program tailored for companies, corporations as well as small- and medium-sized businesses. It promises a transformative shift in how businesses manage expenses and payments in Bahrain.
Through the alliance, Mastercard and BCFC will offer comprehensive solutions for managing company expenses, payables, and overall cash flow. From everyday expenditures to supplier payments, utility bills, and travel expenses, the Commercial Cards Program pledges improved visibility and efficiency in commercial B2B payment flows. Notably, the program includes a unique value proposition, such as a rebate system, complementing the existing benefits of the commercial credit card.
“Our collaboration with Mastercard is a strategic move to provide businesses in Bahrain with innovative payment solutions that cater to their diverse financial needs,” said Abdulla Bukhowa, CEO of BCFC. The Commercial Cards program not only enhances BCFC’s product portfolio but also drives innovation, automation, and digitization in the commercial payments sector.
Driving innovation and digitization
The partnership between BCFC and Mastercard signifies a mutual effort towards driving digitization in the commercial payments sector. Moreover, it empowers businesses with tools that offer unparalleled efficiency and control over financial operations. As such, the BCFC and Mastercard collaboration aims to reshape the way businesses oversee their expenses and payments.
“Mastercard’s partnership with BCFC underscores our pledge to fostering digital payment flows and enhancing the commercial B2B space through trusted payment solutions,” stated Maria Medvedeva, country manager, Saudi Arabia and Bahrain, Mastercard. She also added: “Our recent endeavors in the region, in partnership with the BCFC, have been pivotal in driving the adoption of digital payment solutions, reflecting our vision for a world beyond cash and our commitment to financial growth in the region.”
Redefining the commercial ecosystem
With this collaboration, BCFC and Mastercard will redefine the commercial landscape in Bahrain. The introduction of the Commercial Cards Program marks a significant step towards a more digitized and efficient commercial ecosystem. By leveraging technology and strategic partnerships, the initiative seeks to propel Bahrain’s business sector toward greater growth and prosperity.
The strategic partnership between BCFC and Mastercard heralds a new era in Bahrain’s commercial payments landscape. Businesses can anticipate enhanced efficiency, control, and innovation in managing their expenses and payments. As Bahrain embraces digital transformation, such initiatives underscore the commitment to driving economic progress and competitiveness in the region.
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