Manama: Beyon Money Business, a segment of the Beyon Group, has entered into a strategic partnership with Eazy Financial Services (EazyPay), a payment services provider in Bahrain authorized by the Central Bank of Bahrain. This collaboration aims to deliver a closed-loop payment ecosystem through the integration of EazyPay's network and Beyon Money Business's Flexi Wallet capabilities.
According to Bahrain News Agency, the partnership will facilitate the launch of a co-branded POS device, enhancing the payment experience for merchants across Bahrain. The device's design allows for the acceptance of various payment methods, offering merchants fast and secure contactless transactions. The accompanying dashboard provides real-time data, giving businesses comprehensive insight into their transactions with a user-friendly interface and advanced analytics for monitoring performance and tracking sales trends.
The new solution also promises a streamlined onboarding and settlement process, enabling merchants to manage their funds efficiently. By offering faster settlement cycles and reducing dependency on traditional banking systems, it seeks to improve liquidity management for businesses. Additionally, merchants can benefit from a daily earnings growth opportunity of up to 4.5% on their Flexi wallet balances, with the flexibility to withdraw funds anytime.
By partnering with Beyon Money Business, EazyPay aims to enhance its role in Bahrain's digital payments ecosystem and strengthen its position within the fintech sector. Bruce Rayner, CEO of Beyon Money, highlighted that this partnership signifies progress in advancing digital commerce within Bahrain. He stated that the integration of Beyon Money's wallet platform with EazyPay's payment processing services provides an innovative solution designed to streamline merchant operations and enhance profitability.
Nayef Tawfiq Al Alawi, Founder, Managing Director, and CEO of EazyPay, reiterated the significance of this collaboration as a milestone in their commitment to advancing Bahrain's fintech sector. He emphasized that their joint efforts are set to transform merchant payment acceptance and financial management in the region.