https://arab.news/p38v5
For stc pay, Ramadan is a month of giving, enlightenment and continuous innovation. To start the holy month on a positive note, the Saudi digital wallet has released a campaign titled “A Step Further,” urging everyone to persevere and expect a bright future, great achievements and success.
The video focuses from a motivational standpoint on what stops most people from achieving their goals, highlighting that people might not know where to go, simply because they lack passion, and that the most prominent challenge is having an ambition. The story of stc pay’s humble beginnings resonate throughout the whole video, indicating that something bigger and better might be on the horizon.
stc pay started off in the sandbox as a preliminary idea and paved its way to becoming the first fintech unicorn in Saudi Arabia and the region. With more than 7.8 million users now using stc pay daily, the company focuses on enhancing customer service and innovation within the digital wallet.
stc pay aims to redefine the traditional banking experience, by turning it into an integrated digital experience. It is the first electronic application (via smartphone) in the Kingdom to offer digital payments and financial transactions.
Western Union has acquired a 15 percent stake in stc pay, for $200 million, exceeding the $1.3 billion cap.
The Council of Ministers in Saudi Arabia has approved the conversion of stc pay into a digital bank, making it one of the first digital banks in the Kingdom, which will contribute to enhancing the financial technology sector. This will raise investment opportunities in the Kingdom to facilitate a prosperous and diversified economy, thereby achieving the strategic objectives of the Financial Sector Development Program. Moreover, it will enhance financial inclusion and reduce dependency on cash.