- EazyPay and Binance enter partnership to promote cryptocurrency payments.
- This partnership will adopt the first regulated and approved crypto payment service in MENA.
- Head of Business Development, Binance, says that the partnership has raised the bar.
The Bahraini financial institution Eazy Financial Services, EazyPay, specializing in providing Point of Sale (POS) and Online Payment Gateway Acquiring Services, entered into a strategic partnership with Binance, the largest digital asset exchange platform.
According to Binance CEO, Changpeng Zhao, this will be the first regulated and approved crypto payments service offering in MENA.
Bahrain-based EazyPay has partnered with #Binance Pay to launch the first regulated & approved crypto payments service offering in MENA.
Crypto payments will be available across 5000+ Point-of-Sale Terminals & Online Payment gateways in Bahrain.https://t.co/Mfn1cpcqoF
— CZ 🔶 Binance (@cz_binance) September 22, 2022
As per the press release, the partnership with Eazy Pay, which is licensed and regulated by the Central Bank of Bahrain, will enable consumers to pay with cryptocurrencies via ”BinancePay” at 5000+ POS point terminals and online payment gateways across the Kingdom of Bahrain from September 21.
Nadeem Ladki, Head of Business Development at Binance MENA, while evaluating EazyPay’s decision to join forces with Binance, stated:
As a leader in its field, EazyPay’s decision to accept cryptocurrency payments and integrate Binance Pay into its systems raises the bar for innovation and shows the way forward, when it comes to the payments industry as we transition into the Web3 economy.
EazyPay will allow merchants like Lulu Hypermarket, Sharaf DG, and Al Zain Jewelry to accept 70+ cryptocurrencies via Binance Pay. Payments could be made in real time by scanning a QR code generated by EazyPay through Binance Pay and selecting the preferred crypto.
Nayef Tawfiq Al Alawi, Founder, MD, & CEO of Eazy Financial Services, expressed his delight regarding the collaboration saying:
Our strategic partnership between “EazyPay” and “Binance” is a historic regional and local milestone for both companies in the payment field.