stc launches digital wallet
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
stc Pay Bahrain has been officially launched as a subsidiary company of stc Bahrain after receiving a license from the Central Bank of Bahrain.
As part of its celebration of 13 years as a leading digital enabler in Bahrain, stc Bahrain launched the wallet, highlighting its commitment to contributing to the nation’s journey towards a cashless and digital economy.
This new all-in-one mobile wallet app offers users an extensive range of financial services, including international remittances.
Its prepaid Mastercard enables subscribers to earn cashback instantly.
stc Pay has partnered with Khaleeji Commercial Bank to provide unbanked and underbanked customers access to banking services and local transfers, further bridging the financial inclusion gap in the local community.
This launch represents a significant milestone for Bahrain’s digital payments landscape, marking stc Pay as the only mobile wallet in the Kingdom to offer all-in-one financial services for all types of transactions.
Users of the stc Pay Prepaid Mastercard can pay for goods and services both online and in-store, earning cashback instantly.
They can also send money overseas at competitive rates.
Commenting on the launch, Nezar Banabeela, stc Bahrain CEO and Chairman of stc Pay, stated that developing Bahrain’s digital infrastructure is core to their business operations and technology innovation.
The launch of stc Pay is a testament to their commitment to further contributing to the Kingdom’s digital strategy.
He also expressed gratitude to the Bahrain government, the Central Bank of Bahrain, and their partners for giving them this opportunity.
Banabeela noted that with smartphones becoming more important in everyday modern life, consumers are increasingly using them to manage finances, make digital payments, and 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,” Banabeela added.