10:13 pm - February 18, 2026
Bahrain-based fintech stc pay announced two strategic partnerships during Fintech Forward 2025, marking its continued expansion as one of the Gulf kingdom’s leading digital wallet providers. According to company CEO Metin Zavrak, the Central Bank of Bahrain-licensed platform partnered with AlMoayed ICT, a local IT and systems integrator, to strengthen reliability and scale. Additionally, stc pay joined forces with ARP Digital, a CBB-licensed digital-asset services provider, to integrate digital-asset settlement capabilities into its platform.
Launched in 2023 under Central Bank of Bahrain supervision, stc pay has evolved from a consumer-focused mobile wallet into a comprehensive financial service provider. The platform now facilitates transfers, bill payments, card spending, international remittances, and payroll services. The company maintains sponsorship and exhibition presence at Fintech Forward 2025, using the event to showcase its growing role in Bahrain’s fintech ecosystem.
Digital Wallet Expansion in Bahrain
The digital wallet processed more than 30 million transactions valued at over one billion Bahraini dinars in 2025, according to statements from Zavrak. This transaction volume reflects widespread adoption among both retail users and corporate clients. The platform has attracted over 100 companies to its Wage Protection System-compliant payroll service, demonstrating demand for digital corporate financial tools in the kingdom.
However, stc pay’s impact extends beyond transaction metrics. The company reports serving thousands of low-income expatriates and unbanked individuals through affordable digital financial solutions. These users gain access to instant virtual IBANs through a partnership with Khaleeji Commercial Bank, enabling bank-to-bank transfers and broader financial participation.
International Recognition and Partnerships
The platform received the Best Digital Mobile Wallet award from the International Finance Awards for two consecutive years, according to company announcements. Meanwhile, stc pay’s partnership with Mastercard enables global acceptance through prepaid cards offered in Platinum, Elite, and Elite Metal tiers. The collaboration extends to cross-border payment capabilities that complement the company’s remittance services.
In contrast to purely domestic offerings, stc pay operates international remittance corridors covering over 60 countries. The service partners with providers including Hello Paisa, Terra Pay, Ria, and EzRemit to facilitate instant cross-border transfers. This international reach serves Bahrain’s substantial expatriate community seeking affordable methods to send money to families abroad.
Regulatory Environment and Market Position
Bahrain’s Central Bank of Bahrain has created what industry participants describe as one of the region’s most advanced regulatory frameworks for fintech. This progressive regulatory approach allows innovation while maintaining customer trust and security standards, according to Zavrak. The licensing framework provides customers confidence in service safety, compliance, and reliability while enabling companies to scale operations.
Additionally, the regulatory environment supports responsible innovation in areas including Wage Protection System-compliant payroll and instant IBAN issuance for expatriates. Operating under CBB supervision allows stc pay to introduce solutions that can potentially be replicated across other regional markets. The company describes Bahrain as a strategic market following parent company stc group’s telecommunications success in the kingdom.
Technology Integration and Customer Focus
The company identifies artificial intelligence integration as a priority area for 2026, extending beyond fraud prevention into personalized financial recommendations. Customer support, digital user experience, and security emerged as key success factors during 2025, according to company assessments. These priorities shape the platform’s evolution toward more intelligent, user-centric services.
Furthermore, instant payment capabilities distinguish Bahrain’s fintech landscape. Customer-to-customer transfers between stc pay users occur instantly without fees, while the platform’s virtual IBAN functionality enables real-time bank transfers. This combination of speed and accessibility addresses demand for cashless convenience across shopping, bill payments, and domestic money transfers.
Future Development Plans
Looking toward 2026, stc pay plans selective regional expansion alongside continued enhancement of its Bahrain operations. The company intends to pursue new remittance partnerships and payment corridors while strengthening local offerings through innovative card products, family solutions, and corporate services. These initiatives aim to position stc pay as what Zavrak describes as a gateway between local financial needs and global financial access.
Company officials have not disclosed specific target markets or timelines for regional expansion. However, the platform’s focus on AI-driven personalization and continued partnership development suggests ongoing evolution of its service portfolio throughout the coming year.
