Eazy and BENEFIT partner to introduce biometric payment

Manama The Benefit Company and Eazy Financial Services signed a strategic partnership to introduce the MENA region’s first Biometric Payment Network. 

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 partnership will enable Eazy Financial Services to launch their fingerprint payment solution. This technology is the first of its kind in the region and is an alternative to traditional payment methods like cash or cards. This innovative solution enables bank customers to perform day-to-day financial payments without cash or cards and provides these customers with a secure, fast, and convenient payment method. 

Abdul Wahed Al Janahi, Chief Executive Officer, The Benefit Company commented on this partnership, “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.”

Khaled Al Ahli, Chief Executive, Eazy Financial Services stated, “ We are 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.”

This biometrics identification algorithm is identified as the fastest and most accurate technology by the U.S. department of Justice and the Federal Bureau of Investigation (FBI). The algorithm is also compliant with international payment standards, PCI DSS 3.2 guidelines, and certified by the American National Institute of Standards and Technology.