Spare and Eazy Financial Services Launch Open Banking in Bahrain

By Leandra Monteiro

Today

  • Bahrain
  • Collaborations
  • Eazy Financial Services

Spare, an open banking platform licensed by the Central Bank of Bahrain, announced its partnership with Eazy Financial Services “EazyPay”, a Bahraini payment service provider specializing in point-of-sale and gateway acquiring solutions online payment system to seize the opportunities of Open Banking.

The partnership was officially signed by Abdulaziz AlOthman, Managing Director of Spare in Bahrain, and Nayef Tawfiq Al Alawi, Founder and CEO of Eazy Financial Services, with the aim of contributing to the common goal of accelerating service adoption. banks opened in the Kingdom. , in line with Bahrain’s Economic Vision 2030, which aims to further strengthen the financial sector.

Through this partnership, EazyPay will enable its merchants to accept open bank payments powered by Spare, which will add to the current options available to merchants. Businesses of all sizes will be able to take advantage of a safer and more convenient form of collection thanks to the improved level of service powered by open banking. Customers will benefit from transparent payment solutions through which they can pay directly from their bank account. This collaboration will also allow EazyPay to use Spare’s open banking connections to provide new products and services to its customers.

Abdulaziz Alothman, CEO of Spare, said, “We are delighted to have EazyPay on our side for open banking. Adopting Spare’s innovative transaction solution will undoubtedly bring great benefits to consumers with a seamless and hassle-free experience while allowing them to enjoy new personalized financial services.

Eazy Financial Services, Founder and CEO, Nayef Tawfiq Al Alawi, commented: “We are delighted to partner with Spare, in line with our continued commitment to deliver beyond conventional payment practices and innovative solutions with the ease and speed that customers want. We believe that establishing these partnerships, especially with key players in the ecosystem, will allow the various players to acquire the necessary capacities and deliver innovative and unique proposals to a wide range of customers in the Kingdom and the region. . We look forward to fostering a productive relationship with Spare for many years to come.

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