Sun, 06 March 2022
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions services, has announced a massive increase of online payment transactions in 2021. A total of 159,321,294 payments were made through the Electronic Fund Transfer System (EFTS) increasing by 164 percent with the total value exceeding BHD20 billion for the year 2021 in comparison to BHD16 billion in 2020 - an increase of 26 percent.
Fawri + transactions totalled 140,580,028 over all channels, increasing by 196 percent and exceeded BHD4.4 billion in total value in 2021 compared to BHD2.2 billion in 2020, which is an increase of 97 percent. Fawri + transactions over BenefitPay only increased by 109 percent reaching a total value that exceeded BHD4.1 billion for the year 2021, compared to BHD1.9 billion in 2020.
A total of 9,629,924 Fawri transactions were made showing an increase of 11 percent, with their total value exceeding BHD15.2 billion for the year 2021 compared to BHD13.4 billion for the year 2020, an increase of 14 percent.
A total of 9,111,342 Fawateer transactions were conducted, which is an increase of 117 percent. Their total value exceeded BHD640 million for the year 2021 compared to BHD463 million for the year 2020, an increase of 38 percent. Fawateer transactions over BenefitPay increased by 158 percent with a total value exceeding BHD122 million for the year 2021 compared to BHD60 million for the year 2020 - an increase of 102 percent.
Over all, Electronic Fund Transfer System (EFTS) transactions through the ‘BenefitPay’ application increased by 111 percent with a total value exceeding BHD4.8 billion in 2021 versus over BHD2.3 billion in 2020.