BenefitPay gets big boost

BENEFIT, a leading company in electronic financial transactions, announced recording a significant jump in the number of transactions and payments through its electronic wallet, BenefitPay. The increase, BENEFIT said, also reflects the activation of the Kingdom’s precautionary measures and efforts to limit the spread of the recent Coronavirus outbreak.

BenefitPay recorded a massive BD 103 million worth of electronic financial transactions through “Fawri+” during March, which is a 1257 per cent increase in comparison to the previous year, in addition to an increase of 27pc in comparison to February 2020. The application also witnessed a 43pc increase in its QR code payment function, as well as an increase in the use of transfers. “Fawri” electronic financial payments witnessed an annual increase of BD 13 million, which is a 407pc increase during March 2020, in addition to a monthly growth of 12pc in comparison to February 2020.

The “Fawateer” service grew 397pc during March 2020, in comparison to March 2019, totalling BD 1.5 million worth of electronic financial transactions. Commenting, Abdulwahed AlJanahi, Chief Executive of BENEFIT, said: “The remarkable growth of usage of electronic financial payments reflects on the awareness and commitment of our community to take the 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 to limit the spread of this pandemic.” Since its launch in the Kingdom of Bahrain, BenefitPay has become the most desirable method of payment for over 300,000 users.