STC customers can now pay their phone bills using Shiba Inu thanks to Binance Pay’s partnership with prominent Bahraini payment operator EazyPay.
The new development coincides with a global and Middle Eastern increase in demand for cryptocurrencies. Since the agreement, STC Bahrain has expanded its payment options, making it the first telecom company in Bahrain to do so in response to the rising demand for easy-to-use crypto payments. In addition, the collaboration demonstrates Bahrain’s dedication to developing the country’s fintech space.
STC Bahrain is a subsidiary of Saudi Telecom Company. STC offers advanced digital solutions and services in Bahrain and throughout the MENA region. These include communications, information technology, digital payments, digital media, cyber security, and other digital related services.
The initiative was announced on Twitter by Binance, the largest cryptocurrency exchange in the world based on 24-hour transaction volume.
Nezar Banabeela, CEO of STC Bahrain, spoke about the collaboration and noted how digitization rapidly transforms society worldwide, particularly in the payments industry.
“From online shopping and streaming videos to money transfers, almost every digital activity relies on a payment system. We are incredibly proud to be the first telecom operator in Bahrain to accept cryptocurrency payments, a demonstration of our strong focus on advancing Bahrain’s fintech sector as world-class digital enablers,” Banabeela said.
Tameem Al Moosawi, General Manager at Binance Bahrain, recognised STC Bahrain as a renowned tech and innovation firm in the country and added:
“[…] This partnership has set the benchmark for how telecom operators can enable the transition to the Web3 economy by accepting crypto payments.”
Binance Pay Offers Payment Services
STC users can use Shiba Inu to safely and instantly pay their phone bills through Binance Pay. Customers can now use the Binance Pay app and scan the QR code from Eazy’s POS to pay for phone bills.
Presently, more than 70 cryptocurrencies, including Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), Polygon (MATIC), XRP, and others, are supported via Binance Pay. It is important to note that clients of STC can pay their phone bills using any of the supported Binance Pay crypto assets with Shiba Inu included.
A news outlet announced in September that EazyPay and Binance had teamed to introduce more than 5,000 POS terminals and payment gateways throughout Bahrain, allowing companies to accept crypto payments.