One of Bahrain’s first and largest FinTech companies to successfully graduate from the Central Bank of Bahrain sandbox.
June 2021 (Manama, Bahrain) – Payment International Enterprise (PIE) has been at the forefront sparking a wave of innovation in the Kingdom. This latest milestone reflects PIE’s commitment to providing a full financial ecosystem that enables a cashless society with many more momentous breakthroughs to come.
The first of its kind in Bahrain to successfully graduate from the Central Bank of Bahrain sandbox. The platform aims to transform and enhance the lending experience within the Kingdom, enabling consumers to access credit with just a few taps. Thus, revolutionizing the financing industry in Bahrain.
The platform is one of the first digital lending products by Payment International Enterprise (PIE); one of Bahrain’s first and largest FinTech companies to complete the testing phase and is in the process of applying for the relevant licenses. The FinTech innovator is licensed by the CBB as a payment service provider, prepaid card issuer, card processor, acquirer, and e-wallet & e-money issuer. In Bahrain and the region, PIE has been creating innovative solutions and services for individuals and corporations including TAM Wallet, TAM Kiosk, TAM Cards, TAM mPOS, TAM Dinar, and Wage Protection System (“WPS”) service.
Fawaz Ghazal, CEO of Payment International Enterprise (PIE) commented on this milestone “We are thrilled that we will be offering our digital-first approach and solution to lending in the Kingdom soon.”
He added, “This is the right time, especially with the pandemic that has brought drastic changes and amplified the need for digital processes across all financial services to reach consumers and businesses beyond branches. Furthermore, it has challenged the way lenders have historically operated across the globe. We are creating financial products for today’s customers who expect a decision in minutes and cash in days.”
About Payment International Enterprise
Payment International Enterprise B.S.C. (c) (“PIE”, or the “Company”) is a FinTech company in the Kingdom of Bahrain, established as an Ancillary Service Provider with the Central Bank of Bahrain (“CBB”). PIE is licensed by the CBB as a payment service provider, prepaid card issuer, card processor, acquirer, and e-wallet & e-money issuer. PIE is seeking to obtain one more license from CBB for digital lending services.