Khaleeji Bank Launches Visa+ Mobile Money Transfer Service

Khaleeji Bank, a leading Islamic bank in the Kingdom of Bahrain, has announced the launch of its Visa+ service, enabling users to send money to Visa cardholders in the GCC using only the recipient’s phone number. This initiative positions Khaleeji Bank among the first banks globally to offer Visa+, a milestone underscoring the market’s readiness to embrace next-generation financial solutions to enhance digital experiences.

 

Visa+ allows Khaleeji Bank customers to transfer funds to Visa debit and prepaid cardholders in other GCC countries using just a phone number. This innovation eliminates the need to exchange sensitive information such as the 16-digit card number or International Bank Account Number (IBAN), making transactions more secure and convenient.

 

Ms. Ameera Al Abbasi, Head of Retail Banking at Khaleeji Bank, commented on the launch: “Given our constant endeavour to be at the forefront of innovative banks, we are excited to introduce the Visa+ service, which represents a significant advancement in the field of money transfers. At Khaleeji Bank, we are committed to providing modern and secure banking solutions that align with our customers’ aspirations and evolving needs.”

 

She continued: “This service simplifies the process of sending money to Visa cardholders in the GCC, requiring only a phone number, thereby eliminating the need to share sensitive card or account information, offering a streamlined and secure transfer experience. We encourage all our customers to explore this unique feature that combines convenience, security, and speed, embodying the future of digital banking transactions.”

 

Visa+ enhances the money transfer experience for financial institutions while enhancing privacy protections for both senders and recipients. It serves a variety of applications, including direct person-to-person (P2P) payments, financing disbursements, and cross-border money transfers.

 

Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.