Sigma Capital

09-01-2025

stc pay leverages Mastercard Move for money transfers to Alipay

Source: MIST

Trade Arabia-


stc pay, a leading mobile wallet for digital financial transactions in Bahrain, is leveraging Mastercard Move to become the first company in the country to offer secure and efficient remittances to Alipay, China’s leading digital open platform under Ant Group.

This builds on Mastercard Move’s connection to Alipay earlier this year to enable fast and secure international remittances to Alipay, the company said.

Representing a crucial step in enhancing stc pay’s portfolio, the collaboration aligns with the strategic business cooperation between Bahrain and China. The initiative will significantly benefit consumers and businesses by providing them with a reliable remittance service, thereby enabling secure financial transactions between both countries.

Eng Khalid Al Osaimi, Chairman of stc pay and CEO of stc Bahrain, said: “By leveraging our strategic relationship with Mastercard and its extensive global network and services, stc pay is expanding its digital ecosystem to provide greater choice and flexibility for consumers and businesses. This collaboration demonstrates our commitment and empowering our customers with secure, transparent international money transfers."

“Mastercard empowers consumers and businesses around the world to cross international divides with the push of a button, providing greater convenience and peace of mind. Building on our shared commitment to bringing more people into the digital economy, the collaboration with stc pay is a major milestone in unlocking fast and efficient cross-border payments between Bahrain and China,” said Onur Kursun, Head of New Payment Platforms, Eastern Europe, Middle East and Africa, Mastercard.

Mastercard Move is Mastercard’s comprehensive portfolio of money transfer capabilities that provides banks, non-bank financial institutions, direct disbursers and their customers with a variety of money transfer experiences, both domestically and internationally. The portfolio facilitates the movement of funds across over 180 countries in 150+ currencies.