December 19, 2022

Stc Bahrain Becomes 1st Telecom Operator To Accept Crypto Payments in Kingdom

Bahrain

Bahrain

Stc Bahrain, a Bahraini telecom operator, announced that it would accept payments in crypto, marking the first telecom operator in the Kingdom to take such a step.

Under its partnership with payment service provider Eazy Financial Services, customers in Bahrain can pay bills with cryptocurrencies using their Binance wallets. Stc’s move falls within the framework of its commitment to promoting Bahrain’s fintech sector, according to Zawya.

In this regard, CEO of Stc Bahrain Nezar Banabeela expressed his pride that his company is the first telecom operator to accept cryptocurrency payments in the Kingdom, saying: “Rapid digitization across the globe is transforming all aspects of our lives, and payments are the most crucial element. From online shopping and streaming videos to money transfers, almost every digital activity relies on a payment system.”

Banabeela asserted Stc’s keenness to leverage the use of crypto in the future of crypto payments, noting the company plans to make the acceptance of crypto a seamless process.

Meanwhile, CEO of Eazy Financial Services Nayef Tawfiq Al Alawi pointed out that the partnership allows the Bahraini telecom operator to accept payments in crypto “in a regulated, secure and extremely fast manner.”

Binance Bahrain General Manager Tameem Al Moosawi, for his part, said the deal represents how telecom operators could be moved to the Web3 economy by accepting crypto payments.

Customers of Stc Bahrain can pay for products and services via cryptocurrencies using Binance Pay after scanning the QR code from Eazy’s point-of-sale (POS) using their Binance App and paying with their preferred cryptocurrency.

Licensed by the Central Bank of Bahrain, Eazy Financial Services teamed up with Binance in September to make crypto payments acceptable in the Kingdom using Binance Pay at over 5,000 POS terminals and online payment gateways across the Kingdom.

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