BenefitPay's transactions to exceed over $79bln by 2025 end

Bahrain's electronic network BENEFIT has projected that BenefitPay transactions will surpass $79 billion by the end of 2025, highlighting the rapid adoption of digital payments across the kingdom.

The forecast reflects the extraordinary growth trajectory of BenefitPay, which has become the dominant digital payment platform in Bahrain. The system handles peer-to-peer transfers, merchant payments, bill payments, and government service transactions, serving as the backbone of Bahrain's shift away from cash.

The $79 billion projection represents a substantial increase over previous years, driven by growing merchant acceptance, increasing consumer confidence in digital payments, and the regulatory mandate requiring all commercial establishments to offer at least one digital payment method.

BENEFIT, which operates Bahrain's core payments infrastructure including the national switch, ATM network, and electronic bill payment systems, has been expanding BenefitPay's capabilities to accommodate the growing volume and diversity of transactions. The platform now supports QR code payments, in-app purchases, and government fee payments alongside its original peer-to-peer transfer functionality.

The growth in BenefitPay transactions is a key indicator of Bahrain's digital economy development. The kingdom has pursued one of the most comprehensive digital payment strategies in the Gulf, combining regulatory mandates, infrastructure investment, and open banking initiatives to create an ecosystem that encourages digital transaction adoption.

BENEFIT said it continues to invest in platform capacity and security to support the anticipated transaction volumes.