stc Bahrain, a world-class digital enabler, commemorates 13 years of pioneering Bahrain's journey to digital transformation and contributing to its vision of evolving into a cashless and digital economy. Leveraging the technology ecosystem to deliver intelligent and sustainable digital payment solutions, stc Pay is now launched as a new subsidiary company of stc Bahrain, officially licensed by the Central Bank of Bahrain.
An exciting milestone for Bahrain’s digital payments landscape – as stc Pay Bahrain becomes the only mobile wallet in the Kingdom providing all-in-one financial services feature for all types of transactions. Using the stc Pay Prepaid Mastercard, subscribers can pay for their goods and services both online and in-store and earn cashback instantly. With stc pay customers can also send money overseas at competitive rates. This is setting a new benchmark in fintech payment solutions that responds positively to consumers' and businesses' financial service needs. Furthermore, stc pay also offers “Wages Protection System compliant payroll solution” for companies which contributes to the cashless economy vision.
Furthermore, stc Pay partners with Khaleeji Commercial Bank to provide unbanked and underbanked customers access to banking services and local bank transfers which further empowers the financial well-being of the local community by bridging the financial inclusion gap and telecom subscription boundaries with the convenience of Fawri and Fawri+ to send money transfers locally.
Eng. Nezar Banabeela, stc Bahrain CEO and Chairman of stc pay said, “Developing Bahrain’s digital infrastructure is core to our business operations and technology innovation, which is a testament to the $2 billion investment to date. As we move forward with more technological advancements, stc Pay reiterates our commitment to further contribute to the Kingdom’s digital strategy and we’d like to express our gratitude to the Bahrain government and the CBB, and our partners for giving us this opportunity with our new launch.”
Commenting on stc Pay launch, Mr. Banabeela adds further, “With smartphones becoming more important in everyday modern life, consumers are increasingly using it to manage finances, make digital payments, track health and lifestyle factors. The always-on connected consumer is looking for smarter and quicker digital mobile payment solutions, without any geographical limitations, stc Pay is a perfect example of that. It is a cohesive digital payment platform – designed for the future as a one-stop-shop for all financial services on your smartphone, inclusive of all economic backgrounds.”
stc Pay is a new digital payment product that is safe and secure and accessible from anywhere, at any time. Simple to download and operate - all you need to do is to use it as an on-the-go payment solution for all your needs, anytime and anywhere. stc pay is available for everyone in Bahrain.
Source: Press Release