The Future of Forex

by BTM

Sun, 05 February 2023

General Manager of BFC Payments

As one of the leading digital FinTech players in Bahrain, BFC Payment’s primary focus is to ease and enhance their customers’ experience. This month, we spoke to the General Manager of BFC Payments, Davis Parakal. Having been in the FinTech industry for over 10 years, Mr. Parakal has established several digital products for leading banks and FinTech companies in Bahrain, India, UAE, Philippines, Malaysia and more.

BFC Payments, an extension of BFC Group, provides digital payments services for corporates, customers, and SMEs. The Kingdom was recently abuzz with news of BFC Payments’ latest innovation – BFC Pay Travel Buddy VISA Platinum Card. 

“BFC has been in the foreign exchange (forex) business for about 100 years now, so we understand this business and customer needs,” says Mr. Parakal. 

To keep up with changing times, BFC Payments curated the BFC Pay Travel Buddy Card. Being fully digital users can download and register on the BFC Pay app and apply to get their virtual card instantly. “This multi-currency prepaid card gives international travellers the convenience of digital payments. It is economical, offers our best foreign exchange rates and allows users to conveniently manage it all from the BFC Pay app,” he explains. 

Users can add money to their BHD wallet through payment methods including BenefitPay or debit cards, and transfer to any five currencies. “The customer gets complete control to manage their own money – move money easily or reverse in less than 30 seconds,” he states.

“The card also offers protection from foreign exchange volatility through our Forex lock-in feature, so users are safeguarded against currency fluctuations,” he adds.

Other benefits include access to Visa Platinum offers and loyalty programmes, instant currency conversion, zero loading fees or FX buy charges on the card. “We have many exciting product enhancements lined up, so I urge you all to apply for BFC Pay Travel Buddy and share your feedback!” concludes Mr. Parakal.