Spare, an open banking platform licensed by the Central Bank of Bahrain, announced its partnership with Eazy Financial Services “EazyPay”, a leading Bahraini payment service provider specializing in point-of-sale acquiring solutions. sale and online payment gateways 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 provided 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.
Eazy Financial Services “EazyPay”, is a leading Bahraini financial institute specializing in point-of-sale (POS) and online payment gateway acquiring services licensed and regulated by the Central Bank of Bahrain.
Abdulaziz Alothman, Managing Director 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.
Founder and CEO of Eazy Financial Services, Nayef Tawfiq Al Alawi, said, “We are delighted to partner with Spare, in line with our continued commitment to deliver beyond conventional payment practices and innovative solutions with ease. and speed desired by customers. We believe that the establishment of these partnerships, in particular with the key players in the ecosystem, will enable the various players to acquire the necessary capacities and deliver innovative and unique proposals to a large clientele in the Kingdom and the region. We look forward to fostering a productive relationship with Spare for many years to come.
Spare is a licensed open banking facilitator that offers a wide range of account information and payment initiation services to merchants and consumers. With “Pay by Spare”, merchants can take advantage of a faster, cheaper and more secure way to receive payments from their customers via a bank-to-bank transfer. Spare aims to grow and expand the presence of open banking and introduce solutions that will improve the way we transact. Spare is connected to the largest retail banks in Bahrain, reaching over 90% of customers in the Kingdom.