GCC Enterprise Awards 2018

MEAMARKETS / 2018 GCC Enterprise Awards 11 , Drawing on more than three decades of experience in the market, AFS is the leading provider of electronic payments outsourcing services. We profile the firm to gain a fascinating insight into the work it undertakes. Most Innovative Fintech Solution Provider 2018 - Kingdom of Bahrain As a leading provider of electronic payments and FinTech services, AFS delivers its promise to both banking and non-banking institutions, providing them with a range of cutting edge solutions that meet their needs in the ever evolving financial markets. With over 34 years’ experience providing solutions across payment processing, EVM and contactless personalization and host of value added services to more than 70 clients, today the company is recognized as the market leader in the MENA region. Drawing on this vast industry experience, AFS currently provides business critical services to 70 banks in the region which can only happen due to well established processes across the board. The company is at the cutting edge of the latest technological solutions, and is the only processor in the region offering Sharia compliant Fintech and payment solutions. Alongside this, the firm also offers a range of acquiring processing services to banks including end- to-end platform, POS, settlement and eCommerce acquiring. Provide integrated POS devices supporting contactless cards, NFC, QR and other forms of acceptance. AFS is certified for Apple Pay and Samsung Pay, and it is this commitment to remaining at the forefront of emerging developments in the Fintech and financial markets that has helped it to achieve the incredible success and market leading position that it enjoys today. Currently, in the banking and finance sector, the GCC region is quickly warming up the global trend of digitization and there are a lot of initiatives being rolled out in this space. The trends are pointing towards cashless and frictionless modes of payments. As a result, the FinTech industry is growing exponentially at an astonishing rate. Looking ahead, AFS believes that, over the coming years, the digital growth already exhibited in the GCC region will continue and create significant disruptions for traditional businesses. The firm is well prepared to deal with this shift, as AFS introduced Bahrain to its first frictionless solution using the Near Field Technology (NFC) called EasyPay. It allowed the user to pay with the tap of their mobile phone at participating merchants. Additionally, the firm has also previously launched bwallet, the first of its kind digital wallet product with ground-breaking electronic KYC GCC18008 (Know-Your-Customer) process for swift and efficient customer registrations, P2P, P2M QR enabled payments etc. These developments and more will help pave the way for success for AFS in this new digital era. The company is now moving full steam ahead in the cashless and frictionless payments space and its roadmap is populated with such solutions not only in Bahrain but across the GCC. eWallet and neo banking solutions are key focuses, and all of these developments offer the company unique opportunities for further success. Company: Arab Financial Services Company Contact: Shiraz Ali Address: P.O.Box 2152, Manama, Bahrain Phone: 00973 17 290333 Website: www.afs.com.bh