Monday 24 June 2024

stc pay, Mastercard launch Bahrain's first world prepaid card

MANAMA, May 18, 2024

stc pay, Bahrain’s most innovative and accessible mobile wallet for digital financial transactions, has partnered with Mastercard to launch the first Mastercard World prepaid card in the kingdom. 
The stc pay Mastercard Elite card, available exclusively through stc pay, introduces new flexibility by providing subscribers with the option to select either a sleek Mastercard Elite Metal card or Mastercard Elite card. 
This innovative offering reflects stc Bahrain's commitment to delivering cutting-edge solutions tailored to the diverse needs of consumers.
The collaboration combines stc pay’s expertise in mobile wallet technology with Mastercard’s proven track record in payment services to provide customers with an unparalleled digital payment experience. Moreover, the partnership ensures that the stc pay Elite card is accepted at millions of merchants worldwide. 
Metin Zavrak, the CEO of stc pay Bahrain, said the launch marks a significant milestone in Bahrain’s digital payments landscape. 
"It reinforces stc pay’s position as a leader in the fintech industry, driving innovation and empowering consumers to manage their finances and enjoy premium benefits with the flexibility to select the card that best aligns with their preferences and lifestyle," he stated.
Maria Medvedeva, Country Manager, Saudi Arabia and Bahrain at Mastercard, said: "At Mastercard, we are committed to harnessing the power of partnerships with disruptive fintech players to accelerate digital transformation and drive payment innovation in the region."
"Our latest collaboration with stc pay will unlock access to a whole new world of benefits for Bahrain’s consumers and connect them to our global payments network that spans over 100 million merchants," he added.
According to her, the stc pay Mastercard Elite Card comes with a range of exclusive benefits, including unlimited cashback up to 6%, family cards for convenient family payments, complimentary access to over 1,400 airport lounges worldwide, discounts on hotel bookings of up to 30%, comprehensive travel insurance (including medical coverage up to $500,000), and purchase protection with 180 days of complimentary insurance against theft or accident. 
This is in addition to travel inconvenience insurance covering loss of baggage ($3,000), delay of baggage ($300), cancellation of trip (up to $7,500), trip curtailment (up to $7,500), and missed connections (up to $300), as well as complimentary airport transfers with Careem, she stated.
stc pay is 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, it continues to expand its mobile wallet offerings, enabling subscribers to manage spend more effectively, she added.-TradeArabia News Service


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