BENEFIT operates world’s first national eCheque System

Manama, October 20 (BNA): As part of the efforts made by the Central Bank of Bahrain to promote digital transformation and provide innovative financial services in line with Bahrain’s Economic Vision 2030, the Central Bank of Bahrain recently launched an electronic check service. As a supplementary payment method to traditional checks, forming a starting point for the transition to a cashless society.

In this regard, the Central Bank of Bahrain directed BENEFIT to implement and operate the Bahrain Electronic Check System (BECS) by using the latest technologies to provide electronic payment services and solutions.

eCheque is the world’s first integrated electronic check system for retail and corporate banking customers, available on smartphone apps, including BenefitPay (for individuals) and the eCheque app (for businesses).

These applications provide many services to users, such as requesting the issuance of checkbooks online from retail banks, in addition to other services, including issuing, signing and depositing checks, all of which are done online without the need for the customer to visit the bank to perform these services, and in accordance with security requirements Advanced achieve the highest levels of transparency and protection.

Meanwhile, BENEFIT will implement a range of initiatives to highlight the launch of the new electronic check service through marketing and awareness campaigns. These initiatives will be implemented in cooperation with several banks in the Kingdom of Bahrain, and will include promoting illustrative clips of how to use the service and sharing awareness publications in various media and social media platforms.

When it comes to security, users will adopt a secure digital signature, eliminating the need for handwritten signatures as required with paper checks, reducing the risk of forgery and fraud. In addition, electronic signatures preserve essential identities and enable more secure audit trails, timestamp tracking, and location of a digital property. Unique login credentials and the ability to sign from a device allow electronic signatures with greater traceability than traditional signatures.

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On this occasion, the CEO of BENEFIT, Mr. Abdul Wahed Al Janahi, commented at the launch: “Based on the directives of the Central Bank of Bahrain, we are proud to be entrusted with the operation of this important national system, which enhances the Kingdom’s position as a front for innovation in electronic payment operations. As BENEFIT, we want Offering seamless and secure payment experiences.Electronic check will allow consumers to enjoy the functionality of regular online check without having to experience the long waiting time associated with traditional paper checks.

Al Janahi explained that this achievement will be the ideal solution for innovative digital services. I would like to thank the Central Bank of Bahrain, government authorities and banks who have been invaluable partners since the beginning of the journey. Our collective efforts and vision have allowed Bahrain to achieve this important milestone in the region.”

Shafak Al Kooheji, Head of Payment Services at BENEFIT and Project Manager for eCheque Service, said: “The launch of this national project is a wonderful occasion, as it sets an international model that we are all proud of. This initiative offers environmentally friendly payment methods, in line with the Kingdom’s efforts to achieve sustainable development goals. I would like to express my sincere gratitude to all who contributed to this historic achievement.”

Bahrain is the first country in the world to launch this integrated and distinct service for electronic checks, which is a testimony to the development of innovation and technological progress in the banking and business sectors in the Kingdom, which puts Bahrain at the forefront as a leading model in this field.

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