STC Bank Partners with TapPayment to Offer Digital Payment Solutions for Merchants and Businesses

STC Bank, the first licensed digital bank in the Saudi market, has announced the signing of a new partnership with “TapPayment” to provide digital payment solutions to merchants and businesses. This partnership is part of STC Bank’s efforts to facilitate and simplify digital payment options, making STC Bank a competitive and accessible choice for merchants and companies in the Saudi market, whether through point-of-sale systems or electronic platforms.

The partnership with TapPayment, a leading provider of payment solutions with services to over 4,000 merchants in the Saudi market, represents a new chapter for STC Bank in expanding and enhancing the payment solutions it offers. The payment solutions provided by STC Bank enable users to pay using their mobile number from any electronic platform, with the option to request service activation from the payment gateway.

STC Bank’s digital banking services and financial solutions are designed to be compatible with Islamic Sharia principles, while ensuring the highest levels of security and customer protection through the use of advanced financial technologies. The digital payment solutions offered by the bank represent a significant addition to the Saudi banking sector, providing convenient and digital banking services that cater to the needs of customers.

STC Bank was initially launched for a select group of pre-selected customers, which serves as a transitional phase before the full launch for all customers later this year. This phased approach will allow STC Bank’s customers to enjoy a differentiated digital banking experience.

The partnership with TapPayment aligns with STC Bank’s pivotal role in digital transformation and empowerment, as well as its contribution to achieving the ambitious goals of the Kingdom’s Vision 2030 to move towards a cashless society by increasing the share of digital financial transactions