Al Salam Bank Launches Samsung Wallet

Press release

Published April 16th, 2023 - 06:13 GMT

Mohammed Buhejji Head of Retail Banking.

Highlights

Al Salam Bank has introduced Samsung Wallet to its clients, a new and secure payment method enabling users to engage in contactless payments using their Samsung devices on any POS or payment system.

Al Salam Bank has introduced Samsung Wallet to its clients, a new and secure payment method enabling users to engage in contactless payments using their Samsung devices on any POS or payment system. Clients will be able to authenticate each transaction using facial or fingerprint recognition, a PIN code, or One-Time Password.

This service is approved at various supermarkets, pharmacies, restaurants, cafés, retail shops, and more, both inside and outside of the Kingdom. Customers can also avail several services including: food delivery, online shopping, and car parking.

Al Salam’s latest addition to their lineup of digital services, Samsung Wallet, will enable clients to conduct safe and secure contactless payment transactions both locally and internationally. The launch is featured in line with the digital transformation strategy for the Bank to keep up with the ongoing developments in the banking and finance sector.

Samsung Wallet is Al Salam Bank’s latest addition to their digital services portfolio. Launched to provide clients with a unique banking experience by empowering them with various contactless payment methods while guaranteeing the highest level of privacy and security both locally and internationally. The launch aligns with the Bank’s digital transformation strategy, complementing its efforts in keeping up with the ongoing developments in the banking and finance sector and minimizing its carbon footprint.

Starting from the 16th of April 2023, clients will be able to instantly add their debit, credit, and prepaid cards from Al Salam Bank to the Samsung Wallet application by following the necessary steps and completing their payments from anywhere around the world with just one click.

When making use of this service, each user will receive a unique PIN that is then encrypted and stored in an industry-compliant certified chip designed to safely store payment information on the device. This method is a safe and reliable option to store card numbers on the payment device.

Background Information

Al Salam Bank

Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain.

ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank's high-caliber management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.