Bahrain: stc Pay Gets Officially Licensed by the Central Bank of Bahrain
Leveraging the technology ecosystem to deliver intelligent and sustainable digital payment solutions, stc Pay is now a new subsidiary company of stc Bahrain, officially licensed by the Central Bank of Bahrain. stc Bahrain has completed 13 years of pioneering Bahrain’s journey to digital transformation and contributing to its vision of evolving into a cashless and digital economy.
It is an exciting milestone for Bahrain’s digital payments landscape as stc Pay Bahrain becomes the only mobile wallet in the Kingdom to provide all-in-one financial services features 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 a “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.
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.
