Manama: Al Salam Bank announced during its participation in the Gateway Gulf 2025 Forum in the Kingdom of Bahrain the launch of its "ASB Pay Business" platform, developed in collaboration with Arab Financial Services (AFS). The innovative digital Point-of-Sale (POS) platform aims to transform Bahrain's payments ecosystem, reflecting the Bank's ongoing commitment to supporting business empowerment and driving digital transformation in financial services.
According to Bahrain News Agency, the ASB Pay Business platform is designed to meet the needs of all market segments, from large corporations to small, medium, and micro enterprises, freelancers, home-based entrepreneurs, and holders of virtual commercial registrations. It provides a comprehensive digital payments system enabling business owners to accept payments directly through their smartphones without traditional POS devices. The platform features advanced services including digital invoicing, payment links, direct account integration, and real-time transaction tracking through a secure and user-friendly interface. It also allows same-day settlements for Al Salam Bank customers, ensuring efficient cash flow and smooth daily operations.
With Bahrain's accelerating digital transformation, statistics show that over 70% of small and medium enterprises now rely on digital payment solutions, while mobile transactions are growing at 30% annually. The digital payments market in Bahrain is projected to reach USD 14 billion by 2025, driven by smartphone penetration exceeding 160% and the region's growing adoption of Soft POS systems, which have increased by 20% annually. These developments reaffirm the importance of advancing innovative and flexible financial solutions that empower entrepreneurs to thrive in the evolving digital economy.
Commenting on the sidelines of the Gateway Gulf 2025 Investment Forum, Anwar Murad, Deputy Group CEO - Banking at Al Salam Bank, said: "The launch of ASB Pay Business marks a transformative step in Bahrain's digital payments landscape and embodies our vision to deliver innovative financial solutions that meet local market needs while nurturing an entrepreneurial ecosystem. We are committed to empowering the SME sector with smart digital tools that enhance efficiency and support business growth. We encourage all business owners to benefit from this platform, which enables them to accept payments easily, both locally and internationally, supported by a comprehensive suite of services designed to sustain business expansion".
Samer Soliman, Chief Executive Officer of Arab Financial Services (AFS), said: "At AFS, we take pride in being the technology partner to Al Salam Bank in launching ASB Pay Business, a platform developed to meet the aspirations of clients across different business segments, particularly small and medium enterprises. Our role centres on providing a secure and advanced payment infrastructure that supports flexible and seamless payment experiences across multiple channels, fostering business growth in an increasingly digital environment. This strategic partnership with Al Salam Bank reflects our shared vision of driving innovation in digital payments and promoting financial inclusion by equipping entrepreneurs and enterprises with smart technological tools that support their long-term sustainability".
This collaboration between Al Salam Bank and AFS underscores their mutual dedication to supporting the SME sector as a key pillar of Bahrain's economic growth. ASB Pay Business serves as a strategic enabler in broadening access to modern digital financial services, enhancing business sustainability and competitiveness. It also reflects both institutions' commitment to social responsibility by fostering local entrepreneurship and advancing an innovative, inclusive digital banking environment.