BENEFIT announces massive increase in online transactions last year
BENEFIT, the Kingdom’s leading company in Fintech and electronic financial transactions services, announces a 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 16 billion Bahraini dinars for the year 2020 in comparison to 13 billion Bahraini dinars 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 2.3 billion Bahraini Dinars in 2020 versus 360 million Bahraini Dinars in 2019 showing an increase of 539%.
Fawri + transactions increased by 652% and exceeded 2.2 billion Bahraini Dinars in total value in 2020 compared to about 542 million Bahraini Dinars in 2019, which is an increase of 314%.
Fawri + transactions through the “Benefit Pay” application increased by 785% reaching a total value that exceeded 1.98 billion Bahraini Dinars for the year 2020, compared to about 321 million Bahraini Dinars For 2019, an increase of 520%.
Fawri’s transactions increased by 23%, as their total value exceeded 13.4 billion Bahraini Dinars for the year 2020 compared to about 12.7 billion Bahraini Dinars for the year 2019 increasing by 5%. Fawri’s transactions through the “Benefit Pay” application increased by 235%, as their total value exceeded 254 million Bahraini Dinars for the year 2020 compared to about 33 million Bahraini Dinars for the year 2019 with an increase of 653%.
Fawateer transactions increased by 111%, as their total value exceeded 463 million Bahraini Dinars for the year 2020 compared to about 281 million Bahraini Dinars for the year 2019, an increase of 64%. Fawateer transactions through the “Benefit Pay” application increased by 1174%, as their total value exceeded 60 million Bahraini Dinars for the year 2020 compared to about 5 million Bahraini Dinars for the year 2019 with a rapid increase of 954%.
