Manama: Benefit, the main handler of the country’s electronic fund transfers and ATM transactions, yesterday announced a significant increase in the number of transactions and payments through BenefitPay.
BenefitPay has played a vital role in increasing the demand of users to complete their daily financial transactions. This is in line with the kingdom’s precautionary measures and efforts to limit the spread of the Coronavirus outbreak.
BenefitPay recorded an astonishing BD103 million worth of electronic financial transactions through “Fawri+” during March, a 1,257 per cent increase compared with the previous year, in addition to an increase of 27pc in comparison with February 2020.
The application has also witnessed 43pc rise in its QR code payment function, as well as an increase in the use of transfers.
In regards to the Fawri electronic financial payments, Benefit witnessed an annual increase of BD13m, a 407pc increase during March, in addition to a monthly growth of 12pc in comparison with February.
The “Fawateer” service recorded a surge of 397pc during March this year, in comparison with March 2019, totalling BD1.5m worth of electronic financial transactions.
Benefit chief executive Abdulwahid Janahi said: “We, at Benefit, are committed to providing the highest quality electronic financial payment solutions to our users in the kingdom.
“We are extremely pleased with this unparalleled growth in transfers and payments made via BenefitPay, and this achievement reflects on Benefit’s commitment to meeting and exceeding the needs of our individual users and business owners,” Mr Janahi said.
“The remarkable growth of electronic financial payments usage reflects on the awareness and commitment of our community to take precautionary measures, reducing paper usage to limit the spread of the Coronavirus. We have also witnessed a large number of businesses and home businesses that began providing their customers with the option to pay via BenefitPay, ensuring the success of our national team.
“We will continue our efforts to provide users with an unmatched experience to complete all their financial transactions,” Mr Janahi added.
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