NEC Payments B.S.C. (NECP), a regional leader in Banking-as-a-Service solutions has partnered with stc Bahrain to provide a bank-grade digital account solution and integrated virtual prepaid Mastercard to enhance the stc Pay mobile payment solution.
Migrating to the NECP platform provides stc Bahrain with the opportunity to improve performance, reliance and extensibility of its mobile payments product and to continue its strategy of adapting its technology ecosystem to provide customers with access to greater digital platforms. The addition of the new Virtual Prepaid Mastercard to stc Pay, provided by NECP as an integrated part of the solution, empowers customers with no access to credit cards and enables stc Pay customers to shop for goods and services online across an array of local and international retailers and get their favourite items delivered right at their doorstep using a fast and secure contactless payment solution.
Andrew Sims, co-founder and CEO of NECP said: “NEC Payments plug-and-play Banking-as-a-Service solution enables digital distributors such as stc Bahrain to quickly implement and launch innovative financial services products built upon our technologies, regulatory license and principal membership of Mastercard. This partnership, and the speed at which the solution was planned and delivered, is testament to both the strong vision and brand of stc Bahrain and the robust and flexible nature of our technology and service offering.”
Eng. Nezar Banabeela, CEO of stc Bahrain commented: “We are delighted to partner with NEC Payments which further elevates our digital business offerings and provides our customers and businesses with the flexibility to conduct their transactions in a fast and secure manner. Given Bahrain’s high responsiveness to digital platforms and the current uncertain times, we continue to step up our digital capabilities with integrated and relevant products that are responsive to our customers’ needs, while helping them maintain their financial and personal well-being.”
As the most innovative and accessible mobile wallet for digital financial transactions in Bahrain, stc Pay, using NECP’s extensive technical capabilities, will continue to explore various digital opportunities that enable customers to access and instantly pay for different types of products and services.