BENEFIT records 242.7 million transactions, 18.2 Billion Dinar worth of electronic financial transactions in first half of 2025

TDT | Manama

Email: mail@newsofbahrain.com

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, announced that it has reached a total volume of 229.4 million for all electronic fund transfer transactions (Fawri, Fawri+, and Fawateer) through BenefitPay during the first half of 2025. This marks a 13% increase in transaction volume and a 10% increase in transaction value compared to the same period in 2024, with the total transaction value reaching BD5.1 billion.

The company further noted that electronic payments made through the Electronic Fund Transfer System (EFTS) across all channels, including banks and BenefitPay which encompass Fawri, Fawri, and Fawateer services, experienced significant growth. The total value of transactions reached BD18.2 billion in the first half of 2025, up from BD16.4 billion during the same period in the previous year, representing an 11% yearon-year increase.

Fawri+

Fawri+ transactions across all channels amounted to 229.7 million in volume, valued at BD4.6 billion, representing a 15% increase in volume and a 10% increase in value compared to the 200.6 million transactions valued at BD4.2 billion recorded in 2024. Additionally, Fawri+ Transactions conducted through BenefitPay alone surged by 13.7%, reaching 224.0 million in volume.

Cross-channel Fawri transactions

Cross-channel Fawri transactions rose by 9% to 7.1 million, with a corresponding transaction value of BD13.0 billion, up from 6.5 million transactions worth BD11.6 billion in the previous year. Additionally, Fawri transactions carried out through BenefitPay increased by 14%, reaching more than 331,000 transactions valued at BD609 million.

Despite a slight decline in Fawateer transaction volumes from 6.3 million to 5.9 million, the total value of these transactions grew by 10%, exceeding BD603.4 million, compared to BD548.5 million in 2024.

eKYC platform

The company also reported a substantial increase in usage of its eKYC platform, with the total number of verifications exceeding 490,000 in the first half of 2025, a 28% rise from nearly 382,000 verifications conducted during the same period last year.

The Bahrain Credit Reference Bureau, operated by BENEFIT, issued approximately 246,000 credit reports during the first half of 2025, reflecting a 2% increase compared to the approximately 242,000 reports issued during the same period in 2024.

These achievements underscore BENEFIT’s continued efforts to lead and excel in the financial services and FinTech space. The company's performance reflects the dedication of its team, the company’s drive for innovation, and its ongoing commitment to delivering solutions, services, and products tailored to the evolving needs of users. BENEFIT’s dynamic work environment and effective integration of advanced technologies into its operations and administration have been instrumental in this success.

Milestones

During the first half of 2025, BENEFIT also celebrated several strategic milestones. These include receiving the ISO 37301:2021 Certification for Compliance Management Systems, launching the “Hadeya” feature within BenefitPay, and rolling out the second cohort of Ruwaad Leadership Programme. The company also launched the fourth edition of its flagship FinTech training programme “Masaar,” was recognised as part of the national initiative the 50 Most Powerful Bahraini Companies and received the Bahrain digital Content Award. BENEFIT additionally signed multiple impactful partnerships, sponsorships, and cooperation agreements with a range of entities.

These accomplishments reflect BENEFIT’s role as a key enabler of Bahrain’s digital economy and its growing influence across the FinTech landscape.