CrediMax, a leading provider of electronic payment solutions in the Kingdom of Bahrain, has completed a technical integration project with Visa Currencycloud in collaboration with GPS. The initiative strengthens the operational foundation of the Cardy EX prepaid multi-currency card and prepares the product to support a broader range of currencies with greater flexibility and efficiency.
GPS served as the project’s technical integration partner, connecting CrediMax’s systems with the Visa Currencycloud platform and establishing the framework required to standardize foreign exchange processing, refine settlement logic and improve the handling of transactions associated with multi-currency wallets.
The integration automates several core Cardy EX capabilities, including the addition and management of wallet currencies, exchange rate administration, and the configuration and updating of foreign exchange margins in line with approved parameters. It also introduces a scalable technical architecture that enables CrediMax to add further currencies more efficiently, extending the card beyond its original range of six supported currencies.
The project has enhanced the way foreign exchange transactions are processed, streamlined settlement procedures across the relevant systems and improved accuracy in currency conversion and balance management. It also reduces reliance on manual processes, creating a more connected and dependable operating environment for multi-currency payment services.
By connecting with Visa Currencycloud, CrediMax has strengthened its ability to expand the range of currencies supported by Cardy EX in phases. This provides greater agility in responding to evolving customer requirements while supporting the continued development of payment experiences for travel and international shopping.
Mr. Ahmed A. Seyadi, Chief Executive Officer at CrediMax, said:
“This project represents an important milestone in the development of Cardy EX, providing a more advanced technical framework for managing its multi-currency capabilities and supporting the product’s expansion in line with customer needs and market trends. The integration with Visa Currencycloud also gives us greater operational flexibility and enables us to deliver more efficient and accurate services as part of an integrated digital experience.”
He added:
“At CrediMax, we continue to invest in technical infrastructure that advances our payment solutions and supports the sustainable growth of our products. The value of this project extends beyond the addition of new currencies, as it establishes a more efficient operating model for managing exchange rates, balances and transactions, contributing to a smoother and more reliable experience for Cardy EX cardholders.”
Mr. Ali Arab, General Manager at GPS, said:
“At GPS, we continue to invest in advanced payment technologies and integration capabilities that enable financial institutions across our client network to access innovative services and new market opportunities. This milestone with CrediMax demonstrates how our technology expertise can help banks and payment providers accelerate the adoption of multi-currency and foreign exchange capabilities through scalable, platform-based solutions designed to support both current requirements and future growth. This approach brings these capabilities together under centralized oversight, making it significantly easier for our partners to manage and control their multi-currency operations. As a trusted payment technology partner, GPS remains committed to enabling our clients to innovate, expand their service offerings, and deliver enhanced payment experiences to their customers.”
The project forms part of CrediMax’s ongoing efforts to modernize its digital infrastructure and adopt advanced technology solutions that improve operational performance and support the expansion of its services. These efforts enable the company to keep pace with evolving customer needs and reinforce its position as a trusted partner in payment and financing solutions.