STC Pay and Mastercard are Transforming Bahrain’s Digital Payments

In a groundbreaking move aimed at revolutionising Bahrain’s digital payment landscape, STC Pay, the Kingdom’s premier mobile wallet for digital financial transactions, has forged a strategic partnership with the global pioneer in payment innovation, Mastercard. This collaboration promises to elevate subscribers’ experience while extending value-added benefits that resonate with their modern lifestyles and aspirations. In this article, we delve into the details of this partnership and its potential impact on Bahrain’s digital payment ecosystem.

Elevating the Digital Payment Experience

STC Pay and Mastercard share a common vision of simplifying card transactions and providing users with a seamless, secure, and efficient payment journey. This partnership is set to achieve this vision by leveraging their combined expertise. Nezar Banabeela, CEO of STC Bahrain, expressed his enthusiasm, stating, “We are delighted to partner with Mastercard to set new benchmarks in innovation and convenience, creating an exceptional digital payment experience.”

The partnership aims to introduce innovative card products that meet and exceed consumers’ expectations in today’s fast-paced digital era. This means that users can expect various features and value-added benefits beyond traditional payment methods. The objective is to make everyday digital payments simpler, faster, and more rewarding.

Financial Inclusion and Empowerment

One of the standout achievements of stc pay has been its commitment to financial inclusion and empowerment. The mobile wallet company, officially licensed by the Central Bank of Bahrain, has played a pivotal role in providing a secure, affordable, and convenient way for the low-income expat workforce to address their financial needs. By partnering with Mastercard, STC Pay aims to expand its reach and impact, ensuring that even more individuals have access to the benefits of digital financial services.

The STC Pay prepaid cards, integrated into the mobile app, enable customers to shop for goods and services anytime, anywhere, across various local and international retailers. This convenience enhances the overall digital payment experience, making it a preferred choice for users in Bahrain.

Mastercard’s Commitment to Financial Inclusion

Adam Jones, Regional General Manager MENA Central at Mastercard, highlighted the global pioneer’s dedication to elevating consumer experience and driving financial inclusion in Bahrain. Mastercard’s extensive payment innovation and technology expertise make it a valuable partner. Through this partnership, the companies aim to provide a seamless digital experience that fosters the adoption and usage of digital payments in the Kingdom.

About STC Bahrain

STC Bahrain, a subsidiary of STC Group, has been at the forefront of the telecommunications industry in Bahrain since its inception in 2010. Through continuous investments in next-generation technologies and innovative solutions, STC Bahrain has consistently maintained its position as a market leader. In 2018, STC Bahrain disrupted the fintech sector with its STC Pay ecosystem of services, earning over 20 awards in just nine years for its outstanding network and innovative products and services. STC Bahrain is the preferred telecommunications network in the country and a fearless disruptor in telecommunications and fintech.

About Mastercard

Mastercard is a global technology company in the payments industry dedicated to connecting and powering an inclusive digital economy. With a mission to make transactions safe, simple, innovative, and accessible, Mastercard operates across more than 210 countries and territories. Their innovations and solutions benefit individuals, financial institutions, governments, and businesses, unlocking priceless possibilities for all.

Conclusion

The strategic partnership between STC Pay and Mastercard is poised to reshape Bahrain’s digital payment landscape. By simplifying transactions, enhancing security, and fostering financial inclusion, this collaboration promises to make digital payments simpler, faster, and more rewarding for users across the Kingdom. As these two industry leaders join forces, Bahrain’s digital payment ecosystem is set to thrive, bringing unprecedented benefits to consumers and businesses alike.