Development News Edition
Give Feedback
write for Us

First biometric payment network in MENA region

The fingerprint solution uses biometric data from its users to enable them to perform everyday financial transactions

Devdiscourse News Desk Bahrain
Updated: 22-03-2018 16:23 IST
First biometric payment network in MENA region

Biometric payment solution (representative image)

Eazy Financial Services, a Bahraini fintech company, and the Benefit Company have teamed up to introduce the first Biometric Payment Network in the MENA region.

Abdul Wahed Al Janahi, CEO of The Benefit Company and Khaled Al Ahli, CE of Eazy financial signed the partnership in the presence of Khalid Al Rumaihi, CE of the Bahrain Economic Development Board and Khaled Saad, CEO of Bahrain FinTech Bay.

The joint venture will facilitate Eazy Financial Services to roll out their fingerprint payment solution which will be first of its kind in the region. This innovation will help the bank customers to go for the cashless transaction with a secure, fast and convenient payment solution.

"We are delighted to be working with Eazy Financial Services to offer this new and technology advanced payment solution to commercial banks' customers, in cooperation with the national switch infrastructure, BENEFIT, which connects all licensed banking institutions." He also added that "We have launched the "Benefit Lab" at Bahrain FinTech Bay to support all our partners by working with them on their modern projects and initiatives, expressed Mr. Abdul Wahed Al Janahi, Chief Executive Officer, The Benefit Company while commenting on this collaboration.

Mr. Khaled Al Ahli, Chief Executive, Eazy Financial Services commented, "We are pleased to have signed this important strategic partnership with the Benefit company as Eazy Financial will further be empowered to launch its services. I am looking forward to kick-starting our projects with commercial banks and financial institutions in Bahrain. The GCC needs non-traditional banking services to stay on track with global trends, and for that reason, we are looking into expanding into the rest of the region."

The fingerprint solution uses biometric data from its users to enable them to perform everyday financial transactions. This biometric identification algorithm is recognized as the fastest and most accurate technology by the U.S. Department of Justice and the Federal Bureau of Investigation (FBI).

COUNTRY : Bahrain