“STC Bank” signs a deal with “MyFatoorah” to provide digital payment solutions for merchants and companies

STC Bank revealed its signing with “MyFatoorah” to provide digital payment solutions provided by the bank to merchants and companies, as part of the bank’s efforts to enable its customers to benefit from the digital payment solutions provided by the bank.

The signing of the first digital bank in the Kingdom with “MyFatoorah” to provide its digital payment solutions comes as part of its efforts to expand its presence among the payment solutions available to merchants and companies to facilitate payment operations for the public through points of sale or through electronic platforms for stores and companies, so that STC Bank becomes a basic and competitive option in the Saudi market.

The payment solutions provided by STC Bank are distinguished by enabling users to pay with a mobile number from any electronic platform by requesting service activation from the payment gateway.

MyFatoorah is one of the specialized and leading companies in providing flexible payment solutions that support electronic payment through electronic platforms for companies and points of sale for stores spread across all regions of the Kingdom, as the company provides its services to about 3,000 stores in the Kingdom.

It is noteworthy that STC Bank launched its services this year for a number of customers who were previously selected to represent a transitional phase before the full launch for all customers later this year to enjoy a different digital banking experience that keeps pace with the development witnessed by the Kingdom in all fields, including e-commerce and digital payment solutions.

It is considered the first licensed digital bank in the Saudi market, established in June 2021, and enabling its digital solutions for merchants and companies in the Saudi market represents a strategic goal for the bank, which confirms its pivotal role in digital transformation and empowerment, as well as contributing 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.

The Bank aims to provide banking services and financial solutions that are compatible with the provisions of Islamic Sharia while ensuring the highest levels of security and customer protection through the use of advanced financial technologies. The digital payment solutions provided by the bank represent an important addition to the Saudi banking sector by providing banking services in a digital manner that meets the needs of customers.