While Bahrain has emerged as a leader in digital payments, outpacing many of its regional counterparts, a recent report on Bahrain by Visa highlighted that 17% of financial transactions continue to be cash-based. The number, although small, uncovers the money habits of consumers in the Kingdom. Soon after the report was released, Gulf Insider sat down with Malak AlSaffar, Country Manager, Visa Bahrain to learn more about the Where Cash Hides study, why 17% of Bahrain’s population still relies on cash transactions, and what measures are being taken to reduce this number even further. From empowering small businesses and fintech startups to enhancing digital security and expanding cashless solutions, the discussion explores the latest technologies, challenges in reducing cash dependency, and Visa’s collaborative efforts with banks, regulators, and fintechs to shape the future of finance in Bahrain. What does Visa Bahrain’s Where Cash Hides study aim to highlight? The purpose of the study was to identify the segments and categories where cash continues to be used. As we all know, Bahrain is very digital. However, by surveying 400 consumers, we aimed to understand what motivates cash transactions and how we, along with our partners in Bahrain’s government, can engage those […]