Friday, September 25, 2020

stc Bahrain and NEC Payments partner to launch Bahrain’s first mobile wallet Prepaid MasterCard

Setting a new benchmark in mobile payment solutions; stc Bahrain, a world class digital enabler, has partnered with NEC Payments, a regional leader in Banking-as-a-Service solutions, to launch the stc pay Virtual prepaid Mastercard, enabling customers to access a broader range of merchants and conduct their transactions in a faster, more efficient and safer way during these challenging times.

With digital at the core of its products and services, stc Bahrain continues to adapt its tech ecosystem by providing its customers with greater digital platforms. In yet another technological benchmark for stc Bahrain, the integration with NEC Payments and subsequent launch of stc pay Virtual Prepaid Mastercard is even more significant at a time WHO is encouraging the usage of ecommerce and contactless payments where possible and to avoid cash, which has been flagged as a conduit for the spread of COVID-19.

Integrated into stc pay app, the new stc pay Virtual Prepaid Mastercard enables customers to shop for goods and services online across an array of local and international retailers and get their favourite item(s) through this fast and secure contactless payment solution. This innovative digital offering from stc Bahrain, also empowers customers with no access to credit cards, to continue shopping for their various needs anytime, anywhere and have the items delivered right at their doorstep. The stc pay Prepaid Mastercard is open for subscription to all users of the mobile wallet; is offered at no additional fee with validity up to three years; and allows flexibility to use current account balance for online purchases.

Eng. Nezar Banabeela, CEO of stc Bahrain commented: “We are delighted to partner with NEC Payments which further elevates our digital business offerings and provides our customers and businesses with the flexibility to conduct their transactions in a fast and secure manner. Given Bahrain’s high responsiveness to digital platforms and the current uncertain times, we continue to step up our digital capabilities with integrated and relevant products that are responsive to our customers’ needs, while helping them maintain their financial and personal well-being.”

Andrew Sims, co-founder and CEO of NEC Payments said: “NEC Payments’ plug-and-play Banking-as-a-Service solution enables digital distributors such as stc Bahrain to quickly implement and launch innovative financial services products built upon our technologies, regulatory license and principal membership of Mastercard. This partnership, and the speed at which the stc pay Virtual Prepaid Mastercard was planned and delivered, is testament to both the strong vision and brand of stc Bahrain and the robust and flexible nature of our technology and service offering.

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