BENEFIT operates the World’s first national eCheque system

BENEFIT operates the World’s first national eCheque system

As part of the efforts exerted by the Central Bank of Bahrain (CBB) to boost digital transformation and introduce innovative financial services, in line with Bahrain Economic Vision 2030, the CBB has recently launched the eCheque service as a complementary payment method to traditional cheques, forming a starting point for transformation into a cashless society. In this regard, the CBB has directed BENEFIT to implement and operate the Bahrain Electronic Cheque System (BECS) by utilising the latest technologies to provide electronic payment services and solutions. The eCheque service is the first integrated electronic cheques system in the world dedicated to retail and corporate banking clients, and is available on smartphone apps, including BenefitPay (for Individuals) and eCheque App (for corporates). These apps offer several services to users, such as online cheque book issuance request from retail banks, as well as other services, including issuing, signing and depositing cheques, which are all done online without the need for the client to visit the bank to perform these services, and in accordance with advanced security requirements that achieve the highest level of transparency and protection. Meanwhile, BENEFIT, will carry out a set of initiatives to highlight the launch of the new eCheque