The Kingdom of Bahrain is no stranger to embracing digital transformation. The country has been leading the way in the Gulf Cooperation Council (GCC) region for digital transformation, and is now taking it one step further with the launch of its contactless payment system. This system, known as Digital Bahrain, is a comprehensive digital payment platform that allows users to make payments without the need for physical cash or cards.
The Digital Bahrain platform is based on a combination of technologies, including Near Field Communication (NFC) and QR codes. NFC technology allows users to make payments by simply tapping their phones against a contactless reader. QR codes, on the other hand, allow users to scan a code with their phones and make payments without having to enter any payment information.
The launch of Digital Bahrain marks an important milestone in the GCC region, as it is the first country in the region to offer a comprehensive contactless payment system. This system is expected to revolutionize the way people make payments in the region, as it eliminates the need for physical cash or cards. Additionally, it provides a secure and convenient way for users to make payments, as all transactions are encrypted and stored securely on the platform.
The launch of Digital Bahrain also marks an important milestone in the region’s contactless payment challenge. The challenge was launched by the GCC countries in 2020, with the aim of encouraging countries to adopt contactless payment systems. Bahrain is the first country to successfully complete the challenge, and is now setting an example for other countries in the region to follow.
However, there is still one small exception to Bahrain’s success in completing the GCC contactless payment challenge. While the country has successfully launched its contactless payment system, it is yet to introduce a unified payment gateway that would allow users from different countries in the region to make payments using their own local currencies. This unified payment gateway would be a major step forward in furthering digital transformation in the region, and would help facilitate cross-border payments.
Overall, Bahrain’s success in launching its contactless payment system is a major milestone for digital transformation in the GCC region. It sets an example for other countries in the region to follow, and provides a secure and convenient way for users to make payments. However, there is still one small exception that needs to be addressed before Bahrain can truly complete its GCC contactless payment challenge – introducing a unified payment gateway that would allow users from different countries in the region to make payments using their own local currencies.
Source: Plato Data Intelligence: PlatoAiStream