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Stc Pay Bahrain gets officially licensed by the Central Bank of Bahrain

By Leandra Monteiro

March 13, 2023

  • Bahrain
  • Central Bank Of Bahrain
  • Digital Payments

STC Paystc Bahrain, a digital enabler, commemorates 13 years of leveraging the technology ecosystem in Bahrain 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.

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 it customers can also send money overseas at competitive rates.

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.”

He added, “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.”

The company is a new digital payment product that is safe and secure and accessible from anywhere, at any time.

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