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| Type | Interbank network |
|---|---|
| Founded | November 1997 |
| Headquarters | Bahrain |
| Industry | Finance |
| Products | Financial Services |
| Website | www.benefitco.com.bh |
The Benefit Company (TBC) is the local switch in the Kingdom of Bahrain handling ATM and POS transactions. Established in 1997 with a special license from the Central Bank of Bahrain as "Provider of Ancillary Services to the Financial Sector"[1], it is the only financial network of its kind in the country.
In addition to the local switching, Benefit is also connected to GCC Net, the main switch operating on all GCC countries. A connection was also established with Shetab in 2005; linking all BENEFIT users with Iran's only switch.
In 2006, the company offered the payment gateway service, integrating more the local banks onto one payment hub allowing banks and their merchants to perform online transactions [2].
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Member Banks in the Network
- Arab Bank Ltd.
- Bank al Habib
- Bank of Bahrain and Kuwait
- Citibank
- HSBC
- Shamil Bank of Bahrain
- Kuwait Finance House
- National Bank of Bahrain
- Standard Chartered Bank
- Bahrain Islamic Bank
- Ahli United Bank
- Bahraini Saudi Bank
- Citibank
- National Bank of Kuwait
- National Bank of Abu Dhabi
- Khaleeji Commercial Bank
- Mashreq Bank
- Al Salam Bank
- Eskan Bank
- ICICI Bank
- State Bank of India
See also
External links
References
- ^ http://www.benefitco.com.bh/company-profile.htm
- ^ http://www.ameinfo.com/78148.html Benefit launches payment gateway
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