Revolutionizing Pilgrimage Finances: WadzPay and BPKH Forge Path for Cashless Journeys November 21, 2023 November 21, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsNovember 21, 2023 by Kelly Cromley

Revolutionizing Pilgrimage Finances: WadzPay and BPKH Forge Path for Cashless Journeys

WadzPay, a prominent innovator in blockchain-based payment technology, has proudly unveiled its strategic collaboration with BPKH (Badan Pengelolaan Keuangan Haji), the institution entrusted with managing Hajj finances in Indonesia. This strategic alliance marks a significant step towards providing cashless digital payment solutions for Indonesian pilgrims embarking on the sacred Hajj and Umrah journeys to Saudi Arabia.


BPKH’s Commitment to Financial Management Guided by Principles


Responsible for Hajj Financial Management, BPKH operates based on sharia principles, prudential principles, benefits, non-profit motives, and a commitment to transparency and accountability.


In expressing the significance of this collaboration, Anish Jain, Founder and Group CEO at WadzPay, conveyed, “We are pleased to collaborate with BPKH in this transformative partnership. Aligned with BPKH’s vision and WadzPay’s blockchain-based Pilgrim Program for payments, our objective is to empower pilgrims, streamline transactions, and enhance their journeys.”


WadzPay’s Role as Program Manager and BPKH’s Pilot Project


WadzPay will act as the overall program manager in this groundbreaking initiative. BPKH, in turn, is gearing up to launch an immediate pilot project through one of its member banks. The primary goal of this endeavor is to make e-wallets accessible to the majority of pilgrims, paving the way for a seamless digital experience during the 2024 Hajj season.


WadzPay’s Private Blockchain-based Pilgrim Payment Program


WadzPay’s Private blockchain-based Pilgrim Payment Program stands out as a game-changer, representing the world’s first cross-border cashless Hajj and Umrah solution. This innovative offering facilitates operational ease for issuance institutions, pilgrims, and merchants alike. Operating on a SaaS-based platform, it can be effortlessly leveraged by multiple issuer institutions in any country. This allows them to establish connections with merchants in Saudi Arabia, enabling pilgrims to top-up their e-wallets in their home country and spend like a “local” during the actual pilgrimage.


Indonesian Banks as Early Adopters of Future-Ready Solutions


Through this partnership, Indonesian banks are positioned to become early adopters of WadzPay’s forward-thinking offering. The collaboration aims to modernize Hajj and Umrah finances, ultimately enhancing welfare and satisfaction for pilgrims. Muhammad Thabrani Nuril Anwar, Head of BPKH Collection Division, expressed, “We are thrilled to usher in a new era of transparency and financial inclusivity through this partnership.”


In conclusion, the strategic collaboration between WadzPay and BPKH represents a groundbreaking initiative poised to revolutionize the financial landscape of Hajj and Umrah pilgrimages. The introduction of cashless digital payment solutions is set to redefine the overall experience for Indonesian pilgrims, marking a significant leap towards modernization and inclusivity in pilgrimage finances.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.