Binance is expanding into the Middle East. EazyPay, located in Bahrain, has teamed up with Binance Pay to introduce the first regulated and authorized cryptocurrency payment service in the Kingdom.
Nayef Tawfiq Al Alawi, the founder, MD, and CEO of Eazy Financial Services revealed in a LinkedIn post that customers may now use the Binance App to pay in stores using any chosen cryptocurrency.
A Bahraini financial institution called “EazyPay” specializes in online payment gateways and point-of-sale (POS) systems. The Central Bank of Bahrain issues licenses and regulates the purchase of services.
Customers can use Binance Pay in over 5,000 terminals
In the Kingdom of Bahrain, the firm will be able to accept cryptocurrency payments using “Binance Pay” as opposed to “EazyPay” on more than 5000 point-of-sale (POS) terminals.
In keeping with its ongoing efforts to deepen its interactions with both merchants and customers as part of its engaged innovative strategy, EazyPay has formed a strategic partnership with CZ’s exchange to introduce cryptocurrency payments using the Binance app.
This expansion of its acceptance product portfolio with the most cutting-edge and innovative payment method in the Kingdom of Bahrain complements EazyPay’s ongoing efforts to strengthen those relationships.
Customers can pay at merchants’ stores in “Real-Time” with crypto by merely scanning the generated QR from Eazy’s POS using the App and paying with their preferred cryptocurrency.
Merchants like Lulu Hypermarket, Sharaf DG, and Al Zain Jewelry as well as local favorites like Jasmi’s will be able to accept 70+ cryptocurrencies from “Binance Pay” customers thanks to “EazyPay.”
The collaboration between the exchange and EazyPay, which is once again a tribute to Bahrain’s advanced regulatory environment and banking structure, is founded on a shared aim to simplify product offerings for merchants and customers using best-in-class technology.
“Our strategic partnership between “EazyPay” and “Binance” is a historic regional & local milestone for both companies in the payment field. And Thanking the Central Bank of Bahrain for their support towards launching this product, which empowered Eazy to provide its valued merchants & customers with competitive and innovative payment services, which cements Eazy’s position as the leading POS & Online payment gateway provider in the Kingdom of Bahrain.”
Nayef Tawfiq Al Alawi, CEO of Eazy Financial Services