Riyadh - Sharikat Mubasher: Stc Group, the region’s leading digital enabler, announced its strategic partnership with PayPal to enhance digital payments in Saudi Arabia, Bahrain, and the broader Middle East region.
The partnership aims to deliver innovative digital payment solutions that empower customers, startups, and small and medium-sized enterprises (SMEs), the company revealed in a recent statement.
The partnership agreement was unveiled during the ninth edition of the Future Investment Initiative (FII) Institute’s flagship conference, which took place from 27 to 30 October.
Through this partnership, both parties will join efforts to explore collaboration opportunities across various fields, notably digital payments, loyalty programs, and banking services. Also, Stc Bank, stc pay Bahrain, and PayPal will integrate their platforms to deliver swift cross-border payments.
Motaz Al-Angari, Group Chief Investment Officer at stc, stated that the partnership with PayPal reinforces the company’s strategy to form global partnerships that drive innovation in digital payments, fintech, and cross-border trade, in line with Vision 2030’s objectives.
He noted that stc and PayPal aim to empower individuals and enterprises in the region through secure and seamless financial experiences.
In turn, Otto Williams, Senior Vice President, Regional Head, and General Manager for Middle East and Africa at PayPal, affirmed that the partnership will provide more secure and seamless experiences to users and merchants alike by combining stc’s robust regional presence and advanced infrastructure with PayPal’s global network.
Moreover, this collaboration reflects the shared commitment of both entities to exploring new opportunities to drive innovation, enhance digital financial connectivity, and enable merchants and SMEs to access PayPal’s global network, which includes over 400 million users.
