We are licensed by the Central Bank of Bahrain, under a special license, as a "Provider of Ancillary Services to the Financial Sector'. Benefit is administered by a Board of Directors representing the shareholders on a proportional basis.

Our initial task was to take over the national ATM switching system, which was originally set up and operated by the Central Bank of Bahrain (CBB). This system has been expanded to encompass GCC-wide, cross-border ATM sharing under the GCCNET arrangement, as well as the switching of local debit card transactions at the Point of Sale (EFTPOS).

In addition, we handle the switching of American Express ATM transactions. This service is currently operational in Bahrain, Qatar and the UAE and Kuwait.

On-line bill payments from Batelco (a local telecoms organisation) are also switched by Benefit.

Benefit handles the settlement of all switched transactions.

We have launched a national Credit Reference Bureau, on behalf of the financial community in Bahrain.

The Benefit Company has designed and developed a national Direct Debit system. This system accepts batch files as input, but leverages the main ATM / POS Switch system to authorize the payments on-line. The system also varies from the standard method as Direct Debit mandates are maintained and processed centrally.

We are actively studying new projects. We will launch selected initiatives in the near future.

The company currently employs thirty eight staff in its offices in Manama, of whom the vast majority are Bahraini nationals.