Social impact technology company FlexxPay, which has over the years built a presence in Europe and the GCC, has inked a cooperation agreement with banking giant Al Salam Bank. The deal between the two entities will see both combining their resources to offer innovative employee benefit solutions to the public, as well as private sector enterprises all across the Kingdom.

The new solution being worked upon is Sharia compliant and it will provide employees and pensioners direct access to a part of their earned income at any time of their choice. In fact, with the new service fully implemented, employees will be able to access their salaries, commissions, end of service benefits, and pensions at any time using the FlexxPay platform. 

Al Salam will handle the banking side of this new arrangement while FlexxPay will oversee the technological aspects. 

Commenting on the new partnership, Michael Truschler, CEO of FlexxPay, noted, “Al Salam Bank is the ideal cooperation partner for us to roll out FlexxPay to the private and public sectors in Bahrain. We share the common goal to combine innovative technology with modern banking services to offer state-of-the-art services to businesses and end consumers. Everyone should be able to access their earned income whenever they need it. They’ve earned it, they deserve it – that’s what FlexxPay stands for.”

The new platform will be available on the web, through a mobile app, and WhatsApp.

Both FlexxPay and Al Salam Bank are optimistic that the new initiative will succeed in its broader objective of having Bahraini people inject more money into the economy.