TransferMate has applied for a representative office licence in Bahrain as it accelerates its push into the Middle East, the Irish payments infrastructure provider said on Wednesday.
TransferMate Seeks Bahrain Licence to Boost Middle East Expansion
The company, which operates an embedded B2B payments infrastructure-as-a-service platform, said the move will allow partners and customers in Bahrain to access its full suite of services, including payments, receivables and stored funds.
TransferMate said the licence would simplify cross-border transactions, enhance cash flow visibility and reduce the need for multiple banking relationships for businesses in the region.
The company described Bahrain as a “strategically important market” as more multinational firms establish operations in the Middle East.
“The Middle East is a region full of opportunity, with fast-growing economies and a strong appetite for innovation in financial services,” Chief Executive Gary Conroy said. “Submitting our licence application in Bahrain is another key milestone as we expand our global footprint and build momentum following our recent e-money licence in Singapore.”
TransferMate already holds 98 licences globally, enabling payments in more than 140 currencies across over 200 countries and territories. The company said each new approval strengthens its position as the owner of the largest fintech payments infrastructure in the world.
