CrediMax Launches ‘MaxWallet’ Digital Wallet

In line with its strategy to continue delivering convenient and secure payment experiences to its customers, CrediMax in collaboration with Mastercard, a leading technology company in the global payments industry, has announced the launch of ‘MaxWallet’, its first Digital Wallet.

The CrediMax ‘MaxWallet’ is Masterpass QR-enabled, allowing mobile banking users to safely pay for face-to-face purchases using their smartphones. Masterpass QR from Mastercard is a quick response (QR) mobile payments solution that allows consumers to make simple and secure digital payments across devices and channels. To make purchases using this service, users simply scan a QR code displayed on the merchant’s device using a mobile app, without cash or cards.

“We are excited to announce the launch of ‘MaxWallet’, which will fundamentally but gradually have a positive impact on payments across the globe,” said CrediMax Chief Executive, Yousif Ali Mirza. “More payments are shifting from cash to electronic due to greater connectivity, and the availability of multiple channels and devices are providing opportunities for digital convergence, helping customers and merchants experience enhanced simplicity and security in payments. Frictionless experiences across payment channels, relevance of use, safety and security are allowing customers to shop anywhere and anytime nowadays.”

“Going digital and transforming the way we pay is regarded by many as the biggest opportunity since the introduction of plastic cards many years ago. The CrediMax ‘MaxWallet’ will have a number of features starting with the rapidly growing Quick Response Payments – commonly known as ’QR’. The launch is a significant milestone for us and will enable us to consolidate our leadership in mobile payments as we are well-positioned to lead and win in digital,” Mirza concluded.

Pankaj Kathuria, Area Business Head, Northern Gulf, Mastercard, said, “Mastercard is committed to introducing innovative technologies that bring the benefits of cashless payments to even more merchants and consumers. By enabling consumers to make fast, simple and secure digital payments directly from their mobile phones, Masterpass QR helps advance the use of cashless payment methods by providing a viable alternative to cash, while contributing to financial inclusion by empowering thousands of small businesses.”

CrediMax’s ‘MaxWallet’ is the first digital wallet enabled to accept and make payments for credit cards in Bahrain. CrediMax is conducting training for a number of merchants to drive the acceptance of QR mobile payments in the Kingdom, with more than five merchants already accepting QR payments and more in the pipeline. Top-transacting merchants including fast food, transportation, movie ticketing, and grocery outlets are being onboarded to encourage customers to install the ‘MaxWallet’ app, which can be used at select merchants in Bahrain and internationally.