stc Bahrain and AFS partner to launch payment solutions in Bahrain
By Edil Corneille
stc Bahrain, a digital enabler, and Arab Financial Services (AFS), the MEA region’s digital payments and financial technology solutions provider, have partnered to launch FinTech payment solutions that will support retail SMEs and customers across the Kingdom of Bahrain.
stc Bahrain will leverage AFS payments tools to rollout the all-in-one fully integrated stc Tajer PoS solution for retail businesses and SMEs. Powered by AFS, the stc Tajer PoS solution provides the flexibility to process payments, print receipts, accept online orders, manage point of sale application, delivery, and e-wallets, while lowering infrastructure investments, minimising human errors, and making it easier for customers to transact.
The partnership also expands the stc pay network, with AFS said to be becoming the first acquirer in Bahrain to offer stc pay acceptance across their network of smart Android-based, integrated PoS (point-of-sale) terminals. Merchants will now be enabled with QR contactless payments and added to the stc pay portfolio while stc pay subscribers can pay at any AFS PoS terminal.
Eng. Nezar Banabeela, stc Bahrain CEO said, “We are pleased to partner with AFS, enabling us to drive technology innovation and support Bahrain’s business sector and the community at large. Our partnership will widen the scope for us to achieve the desired growth and development while providing the opportunity to expand the scope of our digital financial transaction by providing integrated financial services. On the macro level, this partnership will enhance economic digitalisation and transform the way businesses conduct their operations, and the local community engages in contactless services for their varied needs.”
Samer Soliman, AFS CEO said, “stc Tajer PoS solution, powered by AFS, will eliminate the need for SMEs to handle multiple suppliers and hardwares. With this partnership, we are streamlining merchant supply chains and giving them the technical solutions to accelerate and grow their business. Another level of this partnership will see AFS become the first acquirer in Bahrain to offer stc pay acceptance via our network of state-of-the-art PoS terminals. This will further support our merchants in conducting greater transactions and catering to the stc pay customer base. Joining forces with stc Bahrain is the first step in demonstrating our approach towards innovation and collaboration to better serve our customers with smart tools that enhance everyday transactions.”
With a VAT-enabled integrated payment solution developed by AFS, stc Bahrain will be supporting retail companies, including pharmacies, restaurants, cafes, salons, gyms, and others, with the stc Tajer PoS solution, providing them with the flexibility to streamline their financial transaction processes into one system.
IBSi Daily News Analysis
February 22, 2024
Arab Financial Services
What makes Bahraini Islamic Finance industry so robustRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage