BKIC News

Bahrain Kuwait Insurance Co. (GIG Bahrain), becomes the first insurance company in the MENA region to accept Crypto Payments via EazyPay & Binance Pay

12/12/2022

Bahrain Kuwait Insurance Co. (GIG Bahrain) announced today that it has signed a payment services agreement with Eazy Financial Services “EazyPay”, Bahrain’s leading and most innovative payment services provider.

The agreement was held at the headquarters of the Bahrain Kuwait Insurance Company in Seef Area, in the presence of Dr. Abdulla Sultan CEO of GIG Bahrain, and Nayef Tawfiq Al-Alawi, Founder & CEO of Eazy Financial Services and Tameem Al Moosawi General Manager of Binance Bahrain.

As part of the agreement, Bahrain Kuwait Insurance Co. (GIG Bahrain) will be provided with a series of electronic payment services to help enhance business operations and therefore offer its customers an enhanced experience.

These services include providing GIG Bahrain  with state-of-the-art Point-of-Sale (POS) Terminals placed at its outlets to accept all types of Debit and Credit cards from Visa & MasterCard, including the acceptance of the latest method of payment using Crypto assets  via “Binance App”, which is regulated by the Central Bank of Bahrain, making GIG Bahrain the first insurance company in the MENA region to accept premium payments as crypto assets payments in  regulated, secure and extremely fast manner. 

The benefits of bringing in EazyPay to BKIC will ensure simple and effective transaction journeys for customers, with a partner which is able to ensure first-class service.

Bahrain Kuwait Insurance Co.’s Chief Operating Officer, Mr. Ali Noor commented: “We are pleased to have Eazy Financial Services as a POS service provider. The services they offer will benefit our operations greatly while offering a smooth, hassle-free experience for our customers.” 

“As part of our commitment to our customers we always strive to make the payments as easy as possible and provide all ways and means available that meets our customers’ expectations. It’s our pleasure to have add such payment feature to our platform.”

Nayef Tawfiq Al Alawi, Founder & CEO of Eazy Financial Services, expressed his delight saying: “We are very proud Today to become the partners of GIG Bahrain, the leading insurance company in the Kingdome of Bahrain,  by providing EazyPay competitive, and innovative payment services, which makes "EazyPay" the most leading, preferred, and Trusted POS & Online payment Gateway Service Provider in the Kingdom of Bahrain.

Tameem Al Moosawi, General Manager of Binance Bahrain, said, "We are excited to welcome Bahrain Kuwait Insurance Company to the Web 3 Economy. This agreement enables Bahrain Kuwait Insurance Co. to become the first insurance company in the MENA region to accept crypto-asset payments through Binance Pay’s partnership with EazyPay, showcasing how the financial sector in the Kingdom of Bahrain is continuously in the forefront, supporting regional & global players in keeping up with global trends''