The Benefit Company
شركة بنفت

Type| Interbank network
Industry| Finance
Founded| November 1997
Headquarters| Bahrain
Products| Financial services
Website| www.benefit.bh

The Benefit Company (TBC) is the local switch in the Kingdom of Bahrain handling ATM and POS transactions among other services. Established in 1997 with a special license from the Central Bank of Bahrain as "Provider of Ancillary Services to the Financial Sector",[1] it is the only financial network of its kind in the country.

## Contents

* 1 ATM and POS
* 2 GCCNET
* 3 Payment gateway
* 4 Electronic check clearing
* 5 Member banks in the network
* 6 See also
* 7 References
* 8 External links

## ATM and POS

Benefit's initial services included connecting the ATM services of the local banks in Bahrain and handling the settlements. In addition, it connected the POS terminals to all the local issuers in the Kingdom.

## GCCNET

In addition to local switching, Benefit is also connected to GCC Net, the main switch operating on all GCC countries. A connection was also established with Shetab in 2005; linking all BENEFIT users with Iran's only switch.

## Payment gateway

In 2006, the company offered the payment gateway service, integrating more of the local banks onto one payment hub, allowing banks and their merchants to perform online transactions.[2]

## Electronic check clearing

In May 2012, Benefit started running the nation's check truncation system. Thus, enabling 29 banks in the Kingdom to settle checks the same day.[3]

## Member banks in the network

* Arab Bank Ltd.
* Bank al Habib
* Bank of Bahrain and Kuwait
* Citibank
* HSBC
* Shamil Bank of Bahrain
* Kuwait Finance House
* National Bank of Bahrain
* Standard Chartered Bank
* Bahrain Islamic Bank
* Ahli United Bank
* Bahraini Saudi Bank
* Citibank
* National Bank of Kuwait
* National Bank of Abu Dhabi
* Khaleeji Commercial Bank
* Mashreq Bank
* Al Salam Bank
* Eskan Bank
* ICICI Bank
* State Bank of India

## See also

* ATM
* POS

## References

1. ↑ "Bahrain Electronic Network for Financial Transactions". Benefitco.com.bh. http://www.benefitco.com.bh/company-profile.htm. Retrieved 2013-12-06.
2. ↑ [1]
3. ↑ "Central Bank of Bahrain Starts Running Live ProgressSoft's Electronic Check Clearing Solution across the Kingdom | ProgressSoft Corporation". Progressoft.com. 2012-05-12. http://www.progressoft.com/index.php?option=com_press&id=174. Retrieved 2013-12-06.

## External links

* The Benefit Company's Main Site
* Central Bank of Bahrain's Main Site
* GCCNet's main web site

* v
* t
* e

Interbank networks by region

Worldwide|

* Cirrus
* Plus

Africa|

* 123
* Multicaixa

Asia|

* 1LINK
* ALTO
* atm5
* ATM Bersama
* BancNet
* Banks ATM Network and Customer Services
* Cashnet
* CashTree
* Clearing House Automated Transfer System (CHATS)
* Dutch Bangla Bank Nexus
* Encash Network Service
* Electronic Payment Services (EPS)
* EZ-Link
* Faster Payment System (FPS)
* Isracard
* JETCO
* LankaPay
* Link
* MEPS
* MEPS+
* MITR ATM Sharing Network
* MNET
* MyClear
* National Financial Switch
* Nationlink
* NETS
* PRIMA/ATM BCA
* RuPay
* Saudi Payments Network
* Shetab Banking System
* SLIPS
* The Benefit Company
* Treats/ATM BNI
* UnionPay
* Yucho

Europe|

* 4B
* Allied Irish Banks Banklink
* Bancomat
* Eufiserv
* Euro 6000
* Euronet Worldwide
* Girocard
* Bankcard-Servicenetz
* Cash Group
* CashPool
* Groupement des Cartes Bancaires CB
* LINK
* Multibanco
* Otto.
* Sbercard
* Servired
* Single Euro Payments Area
* Vocalink
* Zolotaya Korona

North America|

* Abby
* Accel/The Exchange
* Acculink
* Alberta Regional Network
* Allpoint
* Armed Forces Financial Network
* ATH
* CarIFS
* CO-OP Financial Services
* Discover Network
* Pulse
* TYME
* FIS's
* NYCE
* SUM
* Interac
* Interlink
* Jeanie
* MoneyPass
* Presto!
* SHAZAM
* STAR
* Alert
* BankMate
* Cactus
* Cash Station
* Explore
* Honor
* Money Access Center
* Via
* MOST

Oceania|

* EFTPOS

South America|

* Banco 24 Horas
* Banelco
* A Toda Hora
* Banred
* GlobalNet
* Redbanc
* Suiche7B

* Book
* Category

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