The Benefit Company recorded a 35 percent growth in the volume of transactions made by ATM withdrawals and debit card point of sale payments in the second quarter of 2003 compared to figures from the same period in the previous year.
"These figures indicate an anticipated rise in transaction volumes. We expect this to increase further - possibly to double during the same period of 2004," said General Manager of the Benefit Company, Ebrahim Ali.
The Benefit Company was established in 1997 as a joint venture between seventeen of Bahrain's commercial banks. Benefit is licensed by the Bahrain Monetary Agency (BMA) to offer ancillary services in the financial sector and is widely known for managing the national ATM switching system.
The system has since been expanded to encompass Gulf Cooperation Council (GCC)-wide, cross-border ATM sharing under the GCCNET arrangement as well as the switching of local debit card transactions at point of sale counters, AMEX cash withdrawal transactions, and Bill Payment Services. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
