MANAMA: Mahmood Rafique, Editor: The Kingdom of Bahrain is rapidly emerging a cashless society, according to the Central Bank’s statistics.
The Kingdom’s points of sales (POS) and ecommerce transactions were up 10.9 per cent, year-on-year basis, reaching 12.4 million worth BD309 million for the month of July.
The statistics released by the Central Bank of Bahrain (CBB) for month of July 2022 for POS and eCommerce transactions show that out of 12.4 million transactions 72.4 per cent were contactless and 13.3 per cent in eCommerce.
In terms of the total value of BD309 million, the contactless accounted for 45.7 per cent and 35.6 per cent in eCommerce, up 13.1 per cent on year-on-year basis.
The value of Electronic Fund Transfer system records for Fawri Plus 21.2 million transactions in July up 3.2 per cent on month-on-month basis and 62.87per cent on year-on-year basis. For Fawri 988,070 transactions up 10.78 per cent on monthly and 14.75 per cent on yearly basis. There were 888,457 transactions for Fawateer up 16.80 per cent on year-on-year basis.
In terms of value of Electronic Fund Transfer System for Fawri Plus BD528.193 million for the month of July, followed by Fawri BD1.355 million and Fawateer BD76.135 million, up 32.61 per cent, 16.11 per cent and 56.54 per cent respectively in the month of July.
