EazyPay Deploys Mastercard Receivables Manager for B2B Transactions in Bahrain

Eazy Financial Services, which does business as EazyPay, has become the first acquirer in Bahrain to adopt Mastercard Receivables Manager.

The company will use this solution to help merchants in Bahrain automate their B2B virtual card receivables, according to a Tuesday (July 29) press release.

“EazyPay supports businesses with digital payment solutions designed to simplify operations and elevate the customer experience,” Nayef Tawfeeq Al Alawi, founder, managing director and CEO at EazyPay, said in the release. “As virtual cards gain traction for supplier payments, Mastercard Receivables Manager empowers us to strengthen the B2B payments ecosystem across key industries and large market segments.”

Mastercard Receivables Manager eliminates manual processes by streamlining the capture of virtual card payments, processing them straight through and delivering remittance data directly to merchants’ accounting systems, according to the release.

For merchants, this adds up to better efficiency, working capital and cash flow, per the release.

“At Mastercard, we are committed to delivering value-added services that help acquirers and their merchants operate more efficiently,” Saud Swar, country manager, Saudi Arabia, Bahrain, Jordan and other Levant at Mastercard, said in the release. “Receivables Manager addresses a critical challenge for suppliers managing high volumes of virtual card payments by automating processing, reducing time and boosting efficiency.”

Mastercard announced Tuesday that it launched “widescale global availability” of Mastercard Receivables Manager, two years after the introduction of the automated solution for virtual cards.

Since the product’s debut in July 2023, Mastercard Receivables Manager has been enhanced with new capabilities such as multi-language and secure card-on-file to support digital commerce around the world.

The PYMNTS Intelligence report “Virtual Mobility: How Mobile Virtual Cards Elevate B2B Payments” found that virtual cards can deliver security, efficiency and return on investment to B2B payments.

In an earlier collaboration between Mastercard and EazyPay, the companies teamed up in January 2023 to enhance EazyPay’s eCommerce offerings with Mastercard Payment Gateway Services (MPGS), which is now known as Mastercard Gateway.

Before that, in June 2021, the two companies worked together to equip small– to medium-sized businesses (SMBs) and micromerchants with online payment technologies and access to financial services.

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