Riyadh - Mubasher: stc pay and Visa International have signed a strategic partnership agreement to provide financial services and digital payment solutions to stc pay customers.

The collaboration is the first of its kind in Saudi Arabia in the financial technology (Fintech) field initiated since 2018, according to a press release on Monday.

Moreover, it will empower millions of stc pay customers to use their digital wallets in electronic payments (e-payments) while safely managing their finances.

The partnership was signed by stc pay CEO, Ahmed Alenazi, and Visa General Manager for Saudi Arabi, Ali Bayloun.

This deal is pivotal to stc pay especially after it was licensed to operate as the kingdom’s first digital wallet, being the largest financial digital wallet in the MENA region, remarked stc pay CEO, adding that it will further contribute to the company’s strategy to provide new innovative and flawless financial services.  

The initiative also aims to meet the growing demand on smooth and safe digital payments, hence boosting the kingdom’s digital commerce in tandem with the Saudi Vision 2030, Bayloun concluded.