stc pay partners with Mastercard

By working with Mastercard, stc pay intends to introduce new card products that can meet consumers’ needs and demands in the current digital environment. Representatives from the company expressed their enthusiasm over the collaboration with Mastercard as it aims to develop an improved digital payment experience. By merging stc pay and Mastercard’s knowledge, subscribers receive access to a range of features and benefits that focus on surpassing traditional payment methods and providing simplified and more convenient digital payments. According to officials from Mastercard, the company is committed to enhancing the consumer experience, digitising societies, and supporting financial inclusion in Bahrain. The partnership with stc pay focuses on providing a streamlined digital experience while also fostering the adoption and usage of digital payments in the region.

The stc pay prepaid cards are integrated into the stc pay app and allow customers to shop for goods and services across several local and international retailers. Currently, the company provides local and international transfers, prepaid cards, bill payments, and offers, among others, and it is licenced by the Central Bank of Bahrain. One of the company’s objectives is to offer financial services that are fast, secure, and efficient, while also enabling the low-income expat workforce, which was previously unbanked by the financial sector, with a cost-effective and convenient method to address financial needs.

As a global technology company in the payments industry, Mastercard aims to connect and enable an inclusive, digital economy that makes transactions safe, simple, and accessible. The company leverages secure data and networks, as well as partnerships to support individuals, financial institutions, governments, and businesses in achieving their potential and objectives. Mastercard has connections across more than 210 countries and territories and intends to create a sustainable and inclusive world. In addition to its collaboration with stc pay, Mastercard recently partnered  with Dubai First to allow the latter to use its Mastercard Token Connect in the USA. By joining forces, the two companies intended to push customers’ tokenised card details from mobile apps to Click to Pay and digital wallets. Also, the alliance was set to support merchants and increase consumer adoption by enabling Dubai First cardholders to benefit from Click to Pay services at checkout.

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