Benefit reports $42.4m electronic transactions

Benefit, Bahrain’s innovator and leading company in Fintech and electronic financial transactions services has announced massive increase of online payment transactions in 2020. 

 

The rate of making payments through the Electronic Fund Transfer System (EFTS) increased by 292% with the total value exceeding BD16 billion ($42.44 billion) for the year 2020 in comparison to BD13 billion in 2019, which is an increase of 19%.

 

Payments through the Electronic Fund Transfer System (EFTS) via the “Benefit Pay” application; which was awarded the most Innovative e-Payment Product last year increased by 794%, with the total value exceeding BD2.3 billion in 2020 versus BD360 million in 2019 showing an increase of 539%.

Fawri + transactions increased by 652% and exceeded BD2.2 billion in total value in 2020 compared to about BD542 million in 2019, which is an increase of 314%.

 

Fawri + transactions through the “Benefit Pay” application increased by 785% reaching a total value that exceeded BD1.98 billion for the year 2020, compared to about BD321 million For 2019, an increase of 520%.

 

Fawri’s transactions increased by 23%, as their total value exceeded BD13.4 billion for the year 2020 compared to about BD12.7 billion for the year 2019 increasing by 5%. Fawri’s transactions through the “Benefit Pay” application increased by 235%, as their total value exceeded BD254 million for the year 2020 compared to about BD33 million for the year 2019 with an increase of 653%.

 

Fawateer transactions increased by 111%, as their total value exceeded BD463 million for the year 2020 compared to about BD281 million for the year 2019, an increase of 64%. Fawateer transactions through the ‘Benefit Pay’ application increased by 1174%, as their total value exceeded BD60 million for the year 2020 compared to about BD5 million for the year 2019 with a rapid increase of 954%.-- Tradearabia News Service

 

 

Source: http://www.tradearabia.com/news/BANK_380010.html

 

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