On January 9, 2025, stc pay, Bahrain’s most innovative and user-friendly mobile wallet for online financial transactions, will use 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, which Jack Ma founded.
Mastercard Move’s integration into Alipay earlier this year allows rapid and safe international remittances.
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Benefits of the new remittance service
The partnership corresponds with Bahrain-China strategic business cooperation and strengthens stc pay’s portfolio. By providing a trustworthy remittance service, the project will help individuals and businesses secure financial transactions between countries.
Eng. Khalid Al Osaimi, Chairman of stc pay and CEO, stc Bahrain, stated, “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 to empowering customers with secure, transparent international money transfers.”
Onur Kursun, Head of New Payment Platforms, Eastern Europe, Middle East and Africa, Mastercard, emphasised, “Mastercard empowers consumers and businesses worldwide to cross international divides with the push of a button, providing greater convenience and peace of mind.
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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.”
Mastercard Move offers banks, non-bank financial institutions, direct disbursers, and their consumers various domestic and international money transfer options. The portfolio allows fund transfers to 180 countries and 150+ currencies.
stc pay is Bahrain’s only comprehensive mobile wallet that supports all kinds of digital financial transactions by leveraging Mastercard Move’s cutting-edge capabilities. As it expands its mobile wallet solutions, stc pay continues to provide its users with a quick, safe, and adequate payment platform that helps them better control their spending.