SAUDI ARABIA

Stc pay: We have more than 7,8 million users

February 10, 2022
Saad AlMuhanna.
Saad AlMuhanna.

1- Tell us about the importance of stc pay’s participation in LEAP conference?

stc pay, MENA’s largest digital wallet and a leading regional operator in fintech providing innovative and secure digital financial services, was one of the main participants at this year’s LEAP 2022 conference.

LEAP will bring together the global technology community to tackle the biggest socio-cultural challenges of the world. In its first year it will be the largest debut technology event ever held and is set to become a truly global platform for the entire innovation ecosystem.

This event brings together all technology sectors to discuss the latest developments and challenges in economic development and digital transformation. Based on stc pay’s participation in LEAP 2022, we seek to enhance the Kingdom's position as a prestigious regional financial hub to attract experts and international companies.

2- How does stc pay contribute to supporting and developing the digital payments sector and digital transformation in the Kingdom?

Firstly, stc pay has over 7.8 million users. The youth in Saudi Arabia are using less cash than other age groups, a sign that the Kingdom’s plans to create a cashless society are on course. To cater to the continuous needs of consumers, stc pay offers many services and solutions for consumers and businesses that help society move towards a cashless society. Evidently, stc pay is aligned with Saudi Vision 2030 in where the Kingdom aims to increase the number of non-cash transactions to 70 percent in 2030.

3- What role does stc pay play in supporting e-commerce in the Kingdom?

Based on our programs and solutions, stc pay is one of the biggest supporters of the e-commerce sector in the Kingdom. Our services and products aim to help our customers improve their business performance and help them enter the e-commerce world by providing digital payment solutions to their stores.

4- Tell us, how does stc pay focus on customers regarding the services it launches?

stc pay is a digital smartphone wallet that enables our users to have complete control over their financial transactions, such as issuing cards, transferring money, paying bills, and participating in entertainment activities. stc pay focuses on its customers and their needs to improve and enhance the daily cashless transactions. For example, there was a need for our most recent service launch was Qattah, a service that allowed users to split bills amongst themselves.

5- Can you tell us which recent partnerships stc has established?

Being the leading digital wallet in the Kingdom, we signed a memorandum of understanding with Hungerstation, to enhance the digital transformation, in alignment with the Saudi Vision 2030, achieve the objectives of stc pay strategy, to promote its customers’ experience, and enhance stc pay’s partnerships. The MoU was signed on the second day of LEAP 2022 International Conference on Technology, in Riyadh. The agreement was signed in presence of stc pay’s CEO Ahmed Al Enezi and Hungerstation’s CEO Assad Numan. We have also signed MoUs with Saudi Federation for Cybersecurity Programming and Drones, Saudi Mass Transit Company (SAPTCO), Huawei, Amazon, Sary, Shawarmer.


February 10, 2022
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