Benefit, Bahrain’s fintech and electronic fund transfer system (EFTS), announced that it completed 113.7 million transactions worth 12.5 billion Bahraini dinars for all electronic money transfer services (Fawri, Fawri+, and Fawateer) via its Benefit Pay application during the first half of 2022. This resulted in a 92 percent increase in volume over H1 2021.
Online payments through the EFTS continued to grow significantly during H1 2022, with an 85 percent increase in volume via Fawri Plus, Fawri, and Fawateer.
Meanwhile, the total transaction volume increased from 65.7 million in H1 2021 to 121.3 million in H1 2022.
The volume of payments made in H1-2022 using Fawri+ was 108.7 million, 95 percent higher than 55.8 million in the first half of 2021.
Fawri+ transactions across all channels zoomed by 50 percent to a total value in excess of 2.9 billion dinars in the first half of 2022, from 1.9 billion dinars in H1-2021.
Payments for Fawri+ through Benefit Pay in H1-2022 amounted to a total of 2.7 billion dinars, 51 percent higher than 1.8 billion dinars in the first half of 2021.
