Bahrain’s cashless transactions increased by 3.4% to BD 335.2 million last month compared to the same month in 2022, according to data from the Central Bank of Bahrain (CBB).
According to the banking regulator, a total of 15,505,256 point-of-sale (PoS) and e-commerce transactions were recorded in the Kingdom in September 2023, of which 77.4% were contactless.
This number reflects the surge in online and digital payments that began in response to the COVID-19 pandemic and continues to align with evolving consumer needs.
Restaurants had the most transactions last month (4,982,290), followed by supermarkets (3,922,776), car dealerships (988,031), government service centers (966,812), and healthcare providers. (771,028 cases).
In value terms, government services with BD89.8 million led the top five sectors, followed by restaurants with BD38.2 million, supermarkets (BD35.2 million), communication services (BD24.6 million), and car dealerships (BD18.6 million). continues. .
The infographic shows that electronic fund transfers increased in the Kingdom in September 2023, extending the upward trend over two years.
Trading using Fawri, Fawri+ and Fawateer services, enabled by the Electronic Funds Transfer System (EFTS), continues to experience significant growth.
Fawri+ is a near real-time funds transfer service that allows individuals or businesses to transfer funds of up to BD1,000 per day within 30 seconds. Fawri, on the other hand, is a deferred payment funds transfer service that allows individuals or businesses to transfer any amount within a few hours of a business day, while Fawateer offers real-time bill payments.
Last month, Fawri+ accounted for the majority of EFTS trades (93.7%), followed by Fawateer with 3.3% and Fawri with 3%.
However, in terms of transaction value, Fawri was the leader with 69.7%, followed by Fawri+ with 27% and Fawateer with 3.3%.
In September 2023, the number of transactions completed through Fawri+ reached 28,520,939, an increase of 35.37% compared to the same month last year.
In terms of value, last month’s Fauri transactions amounted to BD 1,544.08 million, an increase of 1.79% from September 2022.
CBB also announced records for real-time gross settlement (RTGS) system transactions last month, with interbank transactions amounting to BD 9,209 million (volume 3,711 transactions) and total customer transactions amounting to BD 711 million (volume 3,711 transactions). 22,965 cases).
The value of successful payment gateway transactions was BD56.654 million.
During the same period, the number of successful ATM withdrawals decreased by 14.14% to 942,000, and the amount decreased by 14.14% to BD91.65 million.
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