Following a partnership between Binance and EazyPay in Bahrain, customers can pay in merchants’ stores in “real time” with cryptos by simply scanning the QR generated by the Eazy POS using the Binance app.
Bahrain, officially called the State of Bahrain, is a country consisting of 33 islands near the eastern coast of the Persian Gulf. Located between the peninsula of Qatar to the east and the coast of Arabia to the west, Bahrain, with an area of 707 km² of land, is really the smallest state on the Arabian Peninsula. Bahrain was the first of the Gulf and Arabian Peninsula countries to exploit oil deposits. Bahrain is a member of the Arab League.
Via Binance, crypto payment will be available in more than 5,000 POS terminals
This year, the state of Bahrain is emerging as the new crypto center of the Middle East. Indeed, last February, the country decided to allow local banks to offer different types of crypto services, thus becoming the new regional crypto center.
This growth in the crypto sector continues with a new partnership. EazyPay, an online payment platform regulated by the Central Bank of Bahrain (CBB), has partnered with Binance Pay to enable crypto payments in the country, said EazyPay CEO and founder Nayef Tawfiq Al Alawi.
Nayef Tawfiq Al Alawi explained that the newly launched crypto payment option will be available in more than 5,000 point-of-sale (POS) terminals and online payment gateways in Bahrain. As a result, consumers can now pay in stores with their favorite crypto using the Binance app.
Eazy Financial Services “EazyPay” is a Bahraini financial institute specializing in point-of-sale (POS) acquisition and online payment gateway services. It is licensed and regulated by the Central Bank of Bahrain.
Khalid Hamad Al Hamad, Executive Director of Banking Supervision at the Central Bank of Bahrain, congratulated EazyPay on the launch of this service, which coincides with current developments in the global payments industry.
Leading local merchants and businesses, including Lulu Hypermarket, Sharaf DG, Al Zain Jewelry, and Jasmi’s, will be able to accept more than 70 crypto-currencies as payment by scanning Eazy’s point-of-sale QR code using the Binance app.
Nadeem Ladki, head of business development at Binance MENA, said:
“As a leader in its field, EazyPay’s decision to accept crypto-payments and integrate Binance Pay into its systems sets the bar high for innovation and points the way forward in the payments industry as we enter the Web3 economy.
There is no doubt that Bahrain is actively experimenting with crypto and blockchain technology.