BENEFIT, a leading fintech company in Bahrain, and Ant International, a global digital payment as well as financial technology provider based in Singapore, have partnered to launch cross-border QR payments between Bahrain’s BENEFIT QR payment system and Ant International’s global wallet service, Alipay+, in 2026. This will help create a more inclusive digital payment system.
By signing a Memorandum of Understanding (MoU), both companies will work together to create new cross-border payment solutions between Bahrain and other countries. They will also develop a system for cross-border payments that encourages innovation and keeps up with global fintech trends.
As part of the partnership, over 15,000 merchants in Bahrain will be able to accept QR payments from Alipay+ users around the world. Alipay+ currently connects over 1.8 billion user accounts from more than 40 digital payment partners to over 150 million merchants in more than 100 countries.
In the future, the partnership will also explore allowing Bahraini consumers to make payments abroad using their local payment methods through the BENEFIT network, which links all the banks in Bahrain, allowing them to pay easily at millions of Alipay+ merchants around the world.
The collaboration also includes sharing knowledge and technical expertise, as well as joint marketing efforts to promote fintech solutions to individuals and businesses.
As per Coherent Market Insights, the Fintech Industry Market will grow at a 9.8% compound annual growth rate (CAGR) from 2025 to 2032, from USD 377.2 Mn in 2025 to around USD 726.2 Mn by 2032. The fintech industry is rapidly transforming the global financial landscape by using digital technologies to provide faster, more convenient, and accessible financial services. It covers payments, digital banking, lending, wealth management, and enterprise solutions, connecting consumers, businesses, and institutions through innovative platforms.
Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT, stated: “This partnership reflects BENEFIT’s strategic vision to expand its global presence and reinforce Bahrain’s position as a leading regional hub for fintech and advanced digital payment solutions. The collaboration with Ant International will contribute to building an advanced infrastructure that strengthens the link between local and international markets, providing users with secure, seamless, and world-class payment experience. This initiative holds a major step toward developing innovative financial solutions that enhance cross-border payments and accelerate digital transformation within the financial sector. It further cements BENEFIT’s role as a strategic partner in shaping a smarter as well as more sustainable future for Bahrain’s financial ecosystem, in line with the Kingdom’s vision of a knowledge-based digital economy.”
Source:
News: BENEFIT
