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STC launches STC Pay to diversify revenue and move into the emerging m-payment market in Saudi Arabia

Karim Yaici Senior Analyst, Research

"STC's priorities should be to facilitate access to its mobile wallet service and improve customer experience in order to drive usage and stickiness."

STC announced its mobile wallet service ‘STC Pay’ in October 2018 in Saudi Arabia. STC’s primary objective is to diversify its revenue sources, while also contributing to the nationwide ambition of improving financial inclusion and reducing cash usage.