Metin Zavrak, CEO of stc pay Bahrain, a subsidiary of Saudi Telecom Company (stc), has unveiled plans to expand the mobile wallet’s presence across the Middle East and GCC region.
In an exclusive interview with Mubasher on the sidelines of the Fintech Forward 2025 (FF25) event at Exhibition World Bahrain (EWB), Zavrak said the initiative represents “a bigger push from the whole group.”
He noted that further discussions are underway, as the team works actively to scale operations in neighbouring countries and later, North Africa.
“Kuwait and Syria are more imminent opportunities. But we are also exploring other countries. We’re looking at GCC. We are exploring Jordan, Oman. All these countries are on our radar,”
the CEO revealed.
Established in 2023, stc pay Bahrain is a mobile wallet offering payment services such as international remittances and bill payments.
The platform aims to simplify daily transactions for both stc and non-stc customers seeking quick access to financial services.
The service first launched in Saudi Arabia in 2018, later evolving into stc Bank after receiving approval from the Saudi Central Bank (SAMA) to transition into a licensed digital bank.
Commenting on growth, Zavrak said the platform has seen “amazing growth due to the market’s high interest,” adding that the company aims to double this growth year on year (YoY) and expects to reach “half of the population very soon.”
On the use of AI-based tools, Zavrak highlighted that the Bahrain development team leverages AI and chatbots to create offers and address customer challenges.
Looking ahead at the broader fintech landscape, he predicted that the sector will increasingly revolve around everyday payments, eliminating the need for physical wallets.
“Day-to-day payments, transferring money, investments, and insurance will come and plug into all these mobile wallets. It will be like a super app that enables you to implement transactions through your phone,”
he said.
Discussing industry challenges, Zavrak cited talent acquisition as the most pressing issue amid the ongoing technological revolution.
“You need to attract people to implement your vision. It’s not that straightforward. It’s not that easy. People are looking for global companies, and they are trying to go there. You are still trying to retain the local talent,”
he explained.
He added that delivering products quickly remains another challenge:
“For me as well, the challenge is to deliver fast because this is a race. To deliver fast, you need a team. You need the development. You need the push. It’s not at the pace that we want.”
Looking to the future, Zavrak expressed his ambition for stc pay Bahrain to evolve further, stating that the wallet could eventually transition into a digital bank.
Featured image credit: stc pay
