Bahrain-based fintech Eazy Financial Services (EazyPay) has joined up with Mastercard to expand its range of e-commerce payment services and allow its merchants make electronic payment methods readily available to customers in the region.
As part of the deal the company will use Mastercard Payment Gateway Services (MPGS) platform, a technology that enables its partners to accept a range of digital transactions easily and securely, including all leading card brands and other non-card payment methods.
“We are delighted to expand the reach of our innovative MPGS technology in Bahrain, in collaboration with EazyPay, to support the GCC nation’s rapidly growing e-commerce industry and ambitious digital transformation strategy,” said Maria Medvedeva, Country Business Manager, Saudi Arabia and Bahrain, Mastercard.
Companies in Bahrain’s vibrant fintech space have a vital role to play in improving access to solutions that can aid digital transformation in the SME sector, which contributes around 30% of Bahrain’s gross domestic product (GDP). In line with its Economic Vision 2030, the country has also invested in frameworks that seek to develop a robust entrepreneurship ecosystem.
“Our aim is to add value, and Mastercard’s seamless MPGS technology solution gives us the opportunity to do that. We are united in our vision to make digital and e-commerce payments more seamless, smart, and swift, creating pathways to progress in new ways,” said Nayef Tawfeeq Al Alawi, Founder and CEO of Eazy Financial Services.
In August 2022, Eazy made the Forbes list of top 25 fintech companies in the Middle East. A year earlier, the company launched its EazyPay POS terminals, which allowed local merchants and SMEs to accept contactless payments.
With over 900 merchants and 5,692 POS terminals across Bahrain, Eazy Financial said it plans to help process transactions worth a total of $1 billion by 2023.
Image sourced from Mastercard
