TransferMate Seeks Bahrain Licence in Middle East Expansion

Payments infrastructure provider TransferMate has applied for a representative office licence in Bahrain, marking another step in its expansion into the Middle East.

The Irish-based company operates an embedded B2B payments infrastructure-as-a-service platform, which enables businesses to handle cross-border payments, receivables, and stored funds. If approved, the Bahrain licence would provide local and regional partners access to TransferMate's full range of services while streamlining international transactions, improving cash flow visibility, and reducing the need for multiple banking relationships.

Bahrain was described by the company as a "strategically important market," with more multinational firms establishing operations in the Gulf region. "The Middle East is a region full of opportunity, with fast-growing economies and a strong appetite for innovation in financial services," said CEO Gary Conroy. He added that the move builds on momentum from the firm's recent e-money licence approval in Singapore.

TransferMate currently holds 98 licences worldwide, enabling it to process payments in over 140 currencies across more than 200 countries and territories. The company says each additional regulatory approval reinforces its claim of owning the largest fintech payments infrastructure globally.