Bahrain - Benefit, a leading fintech and electronic financial transaction services provider, said yesterday that the total value of its electronic fund transfer transactions jumped 14.5 per cent to BD16.4 billion in the first half of 2024 from a year earlier.

The increase was driven by a 25pc surge in transaction volume to 213.4 million from 170.7m, Benefit said. Fawri+, its near-real-time fund transfer service, saw a 17.3pc increase in value to BD4.2 billion, while Fawri, its deferred settlement service, rose 13.5pc to BD11.6bn.

Fawateer, its bill-payment platform, climbed 16.8pc to BD548.5m.

BenefitPay, the company’s mobile app, also showed strong growth, with Fawri+ transactions increasing 15.9pc to BD3.9bn and Fawri rising 19.9pc to BD545m. Fawateer via BenefitPay surged 54.9pc to BD194.6m.

The company’s national electronic know-your-customer platform processed 381,791 verifications, up 13.7pc from a year earlier. Its Bahrain Credit Reference Bureau handled 251,889 credit report inquiries, a 74.2pc increase.

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