Press Release.
Manama, Bahrain, 01 June 2021: Eazy Financial Services B.S.C. (Closed), the leading Payment Service Provider licensed and regulated by the Central Bank of Bahrain, announced the launch of its ‘EazyPay SoftPOS’ application, and enabled the ‘pre-order’ service through the “Google Play store” for all business owners, institutions and commercial establishments starting from today.
The Application will officially be launched within the coming weeks, making Eazy the first Acquirer in the Kingdom of Bahrain to launch such advanced service and technology that meets the needs of business owners, institutions and commercial establishments, which also boasts the lowest Merchants Fees in Bahrain.
The digital application has been developed to enable acceptance of all contactless payment transactions to be made through the use of Android smartphones, directly accepting payments using an innovative ‘Digital POS System’. The application also includes a simplified and seamless registration feature, which enables Merchants to digitally onboard themselves and open a Merchant account within a few minutes and start accepting contactless payment immediately.
The ‘EazyPay SoftPOS’ application utilizes state-of-the-art global technologies, adopting the highest levels of protection and digital security. As an added security measure, the application requires entering a card’s “PIN code” to accept contactless payment transactions for Higher Value Amounts made by all “VISA and MasterCard” ATM/Debit cards, while eliminating the need to insert the card into any conventional POS device, or accepting contactless payments through digital wallet applications such as “BenefitPay”, and smart wearable devices such as digital watches and bracelets.
Merchants/SoftPOS App users will be able to process all of their financial transactions and transfers directly via the application to their merchant’s bank accounts, enabling seamless transactions with flexible services
Effectively meeting the needs of both commercial businesses in the Kingdom and customers alike. ‘EazyPay SoftPOS’ also caters to business owners and Small and Medium Enterprises (SME) across the transportation such as Taxi drivers, hospitality, cosmetics and health industries, as well as the food industry covering delivery services, home services and small retailers such as grocery stores, restaurants, cafes, food truck owners and other small establishments in the Kingdom of Bahrain.
By allowing businesses to accept customers’ Contactless Payments in a safe and fast manner, without the use of the traditional “Point of Sale devices” or any additional hardware, ‘EazyPay SoftPOS’ application thereby provides the added value of increased savings and reduced costs. In addition, the application houses a feature to track and manage sales, financial transactions, and revenue; providing SME’s the ability to process their payments electronically and conduct business transactions seamlessly, which in turn will ensure the sustainability of their business and drive future growth.
“We at Eazy are proud to have obtained a license authorizing us to provide direct financial Acquiring services from the Central Bank of Bahrain, to whom we are very grateful for, and would like to thank them for their constant and unlimited support extended to our company and the entire financial sector in the Kingdom of Bahrain at large,” said Nayef Tawfeeq Al Alawi, the Founder, Managing Director and CEO of Eazy Financial Services.
“We’d also like to extend our deepest gratitude and appreciation to our partners of success “The Benefit Company”, a pioneer in adopting innovative initiatives, for their ongoing efforts and support. At Eazy, we strive to contribute to accelerating the process of introducing digital payments and reducing the reliance on cash in Bahrain, which goes in line with the Kingdom’s 2030 Economic Vision, which aims to further develop the financial sector,” the CEO added.