stc Bahrain's wholly owned subsidiary, stc pay Bahrain, said it has achieved key milestones with over 300,000 downloads, and more than 15 million transactions worth of over BHD 500 million processed in the past year.

Attributing the achievements to innovation and growth in Bahrain's fintech sector, stc pay said it is now one of Bahrain's most innovative and accessible mobile wallet for digital financial transactions, and a key player in advancing the kingdom's digital payment landscape.

stc Bahrain said it has been committed to reshaping the future of digital finance and empowering individuals and businesses by bridging the financial inclusion gap and subscription boundaries with stc pay, as the only all-inclusive mobile wallet in Bahrain for all types of digital financial transactions.

With a seamless, secure and efficient payment platform for its subscribers, stc pay continues to evolve with value-added services that are designed for the future.

"We are delighted with the great success stc pay achieved in the past year, which has been possible with the support extended by Central Bank of Bahrain, Bahrain Economic Development Board, Tamkeen, and esteemed partners, Khaleeji Bank and Mastercard, and our valued subscribers," said Eng Nezar Banabeela, stc Bahrain CEO and Chairman of stc pay.

"Inclusivity is at the heart of stc pay, offering a comprehensive range of digital offerings that are not only value-added but also secure and accessible.

“Our commitment to providing a singular platform for all transactions reflects our dedication to embracing cutting-edge technology in everything we do. This contributes to Bahrain's journey towards becoming a cashless economy.”

stc pay continues to expand its mobile wallet offerings, enabling subscribers to manage their spends more effectively.

The latest products and services include prepaid cards in collaboration with Mastercard – the Elite Card, accepted worldwide and designed to offer luxury benefits such as access to airport lounges, extra cashbacks, and up to 50% travel discounts; and the Family Cards that allow up to five supplementary cardholders with flexibility for family members to use it anytime, everywhere while earning cashback offers.

stc pay has also increased its on-the-go capabilities with contactless features on its platform, including Apple Pay, Samsung Pay, Google Pay. This enables customers to conveniently pay using their favourite devices, a statement said.

In addition to Fawri and Fawri+, which provide unbanked and underbanked customers access to banking services and local bank transfers, stc pay has also enabled the Fawateer service for bill payments.

Moreover, stc pay has expanded its network of countries to 50+ for inter-national money transfers with the best exchange rate, making international transfers more convenient and easier – all through stc pay's single platform.

Furthermore, stc pay’s cashback offers have been enhanced to allow subscribers to do more with their cashbacks – from redeeming them for gift vouchers, bill payments, airmiles, devic-es, and charities. – TradeaArabia News Service