BENEFIT launches Digital Direct Debit service in Bahrain

BENEFIT, a fintech company in Bahrain, has launched a Digital Direct Debit service designed to modernize the lending process. The service enables banks and financial institutions to establish recurring debit arrangements electronically, reducing the need for manual and paper-based processes.

The new system integrates payment capabilities with the Bahrain Credit Reference Bureau to support the entire lending journey, from initial credit assessment to the secure collection of repayments. This integration aims to provide financial institutions with a more consistent end-to-end experience while allowing customers to manage monthly financial commitments through a straightforward digital method.