BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions services, has announced that the BenefitPay mobile application has achieved a steady increase in the number of financial transactions and payments, following its unprecedented growth in the number of users since the beginning of this year.
BenefitPay offers its users an easy and secure method of payment through its variety of services, such as Fawri, Fawri+, and Fawateer, in addition to enabling users to digitally use their ATM and credit cards to make eelectronic payments at over 3,600 stores throughout the Kingdom. During the first 5 months of 2020, BenefitPay has achieved 9.9 million transactions valued at BD 525 million through the Fawri+ service, additionally, BenefitPay has also achieved 206K transactions valued at BD 4.1 million through the Scan to Pay (QR) service, and 428K transactions valued at BD 12.1 million through the Fawateer service.
BenefitPay witnessed an unprecedented growth on all of its services during the month of May 2020. The popular mobile application has achieved a total of BD 158 million through the Fawri+ service, a significant increase in comparison to BD 120 million from the month of April 2020, and BD 1.7 million from the Scan to Pay (QR) service, a significant increase in comparison to BD 939K from the month of April 2020. Fawateer witnessed an exceptional growth in the total value of transactions, achieving BD 5 million during the month of May 2020, in comparison to BD 3.4 million from the month of April 2020.
Commenting on this occasion, Ahmed AlMahri, Senior Manager at BENEFIT, said: “We at BENEFIT are very pleased to witness the growth in the number of financial transactions and payments made through the BenefitPay mobile application, encompassing the needs of all its users from different groups, through one mobile application. This reflects on our successful endeavours to provide the best and most innovative electronic financial solutions to our customers in the Kingdom, reaffirming our commitment to continue directing our efforts into unlocking new features and services through the application, further enhancing the ease and speed of completing financial transactions.”
BenefitPay has become the preferred payment method for a wide range of users, through its simplicity, security, and speed when making electronic payments, in comparison to others. BENEFIT aims to reduce the use of physical cash and encourage electronic payments through the application, in line with the Kingdom’s efforts to encourage electronic payments and prevent the spread of the Coronavirus.
Since its inception in the Kingdom, BenefitPay has attracted over 450,000 registered users, through its wide range of services provided within the application, making it the preferred method of payment and funds transfers.