|20 May, 2020

stc Bahrain and NEC launch virtual prepaid Mastercard

The new fast and secure contactless payment solution enables customers to shop for goods and services online

MANAMA: stc Bahrain has partnered with NEC Payments to launch the stc pay virtual prepaid Mastercard, enabling customers to access a broader range of merchants and conduct transactions in a faster, more efficient and safer way during these challenging times.

The launch is significant at a time when the use of e-commerce and contactless payments is being encouraged to avoid cash, which has been flagged as a conduit for the spread of Covid-19.

Integrated into stc pay app, the new fast and secure contactless payment solution enables customers to shop for goods and services online across an array of local and international retailers.

The innovative digital offering also empowers customers with no access to credit cards to continue shopping anytime, anywhere and have the items delivered right at their doorstep.

The stc pay prepaid Mastercard is open for subscription to all users of the mobile wallet; is offered at no additional fee with validity up to three years; and allows flexibility to use current account balance for online purchases.

stc Bahrain chief executive Nezar Banabeela said, “We are delighted to partner with NEC Payments which further elevates our digital business offerings. 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, while helping them maintain their financial and personal well-being.”

NEC Payments co-founder and CEO Andrew Sims said: “NEC Payments’ plug-and-play banking-as-a-service solution enables digital distributors such as stc Bahrain to quickly launch innovative financial products built upon our technologies, regulatory licence and principal membership of Mastercard.”

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