Commenting on the partnership, Khalid Elgibali, Division President, Middle East and North Africa, Mastercard said: “Blockchain has the potential to transform the way payments are made. As a technology company, Mastercard is proud to introduce the latest payment technologies to the region, which are helping to build the infrastructure for a smart economy. Mastercard will continue to work with BENEFIT and our other partners in the region to explore further use cases of blockchain, which can help drive greater efficiencies, increase transparency and support the development of digital economies.”
BENEFIT’s CEO, Mr. Abdulwahed Al-Janahi, commented: “We are very pleased to sign this agreement, which will be a qualitative leap for international remittance systems and will strengthen Bahrain’s name as a leading international hub in Fintech. The project fits with the national agenda of implementing innovative products based on new technology such as Blockchain. We also thank Mastercard and value the support we have from the Central Bank of Bahrain (CBB) and the Economic Development Board (EDB).”
Mastercard is a leading innovator of blockchain technology, having built a permissioned blockchain network that is integrated with its global network, providing a secure tamper proof ledger, high transaction throughput, enhanced security, transaction privacy, and support for multiple use cases with one deployment. With over 100 blockchain patents filed, Mastercard is among the world’s blockchain innovators. By leveraging its strategic public-private-partnerships in the Middle East and Africa, Mastercard will continue its efforts in advancing the payments and technological landscape of the region.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Mastercard Communications ContactJandré Nieuwoudt, +971 4 563 8603[email protected]
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