Binance has teamed up with Bahrain EazyPay for crypto payments

EazyPay has partnered with Binance Pay to launch the first regulated and accepted cryptocurrency payments service in the Kingdom of Bahrain. Customers can pay at Merchants’ Stores in “Real-Time” by scanning the QR code generated by Eazy’s POS with the Binance App and paying with their preferred cryptocurrency.

Customers can pay for goods using cryptocurrency at any of EazyPay's partner stores in Bahrain using the company's Binance Pay POS system by scanning the QR code generated and then sending the cryptocurrency of their choice. EazyPay has collaborated with Binance Pay to offer Bahrain's first cryptocurrency payments service that is approved and regulated.

Customers can now pay in stores with any cryptocurrency of their choice using the Binance App, according to Nayef Tawfiq Al Alawi, Founder, CEO, and MD of EazyPay. Eazy Financial Services is a Bahraini financial institution that provides Point-of-Sale (POS) & On-Line Payment Gateway Acquiring services, which are regulated & licensed by the Bahraini Central Bank. The company will offer crypto payments using Binance Pay over EazyPay across 5000+ POS Terminals & On-Line Payment Gateways in Bahrain.

Khalid Hamad Al Hamad, Executive Director at the Central Bank of Bahrain, congratulated EazyPay on the launch of this service, which coincides with recent developments in payment technologies. He also praised EazyPay's efforts to keep up with current developments in the sector. EazyPay now accepts over 70 cryptocurrencies, including Binance Pay customers.

Nadeem Ladki, Binance MENA's business development director, said, "The decision by EazyPay to accept cryptocurrency payments and integrate Binance Pay into its infrastructure shows the way forward for the payment industry as we transition into the Web3 economy. Customers can then pay for purchases at any merchant store using cryptocurrency by simply scanning the QR code generated by EazyPay's POS and paying with their preferred cryptocurrency.

What are your thoughts about this new partnership? Do you think it'll work for the long term or will there be unforeseen implications that they have not considered for this strategy? Let us know in the comment section below.