Bahrain vs Russia · Real-time payment systems compared
| Capability | Fawri+ | SBP |
|---|---|---|
| QR Code Payments | ◐ | ✓ |
| Wallet Support | ◐ | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | ◐ |
| ISO 20022 | ✓ | ✓ |
| Request to Pay | — | ✓ |
| Open API | — | ◐ |
| Alias/Proxy | ◐ | ✓ |
Bahrain's instant payment service operated by BENEFIT Company (the national payment network) under Central Bank of Bahrain oversight. Fawri+ enables 24/7 real-time domestic transfers between banks in seconds, complementing the existing Fawri (next-day) service. Bahrain was an early adopter of instant payments in the Gulf region, and BENEFIT also operates BenefitPay, a mobile wallet app linked to Fawri+ for QR and P2P payments. The system connects all retail banks in the kingdom.
Russia's System of Fast Payments (Sistema Bystrykh Platezhey, SBP) is the national instant-payments scheme launched by the Bank of Russia and NSPK in January 2019. It enables 24/7 real-time interbank credit transfers addressed by mobile phone number, plus QR-code payments to merchants (C2B), payouts from businesses to individuals (B2C), and cross-border transfers to CIS and friendly countries. The Bank of Russia acts as operator and settlement centre; NSPK provides operational and clearing infrastructure. Systemically important banks are mandated to participate; consumer transfers up to RUB 100,000/month are fee-free. Data transparency has decreased somewhat since 2022; the CBR continues to publish quarterly aggregate SBP statistics.