February 13, 2017 -
Bahrain fintech solutions provider Eazy Financial Services B.S.C. has appointed Mr. Khaled Abdulkarim Al Ahli as its CEO to help drive adoption of its about-to-be-launched biometric payment network.
According to a company statement, the patented fingerprint-based payment solution is the region’s first to use biometric data, rather than cash and cards, to enable users to perform everyday financial transactions.
“This revolutionary financial technology is the first of its kind to combine the security of biometrics with the speed and convenience of cardless and paperless payment,” commented Al Ahli. “To benefit from this solution, customers will be required to enroll through participating financial institutions by registering their fingerprints. All users will receive a PIN and once activated, they will be able to make any payment without the need to carry their wallets or any devices. The fingerprint is enough to make a transaction and the PIN will be used to authenticate for additional security.”
“Safety and security in everyday payments is at the heart of every business,” continued Al Ahli. “We aim to provide a seamless payment experience that supports the financial and banking sector, which is one of the most important engines of economic growth in the Kingdom. We are licensed by the Central Bank of Bahrain and will be working in collaboration to implement this service across financial institutions in the Kingdom initially and then region-wide progressively. We are currently finalizing the solution and should be ready to officially launch this service in the next quarter.”