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STC Pay Clinches One of the Two Digital Bank Licenses in Saudi

The Saudi cabinet has granted a digital bank license to STC Pay, a digital payments company which is a fully owned subsidiary of Saudi Telecom. STC Pay will be converted into a local digital bank, with a capital of SAR

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Western Union to Snatch up 15% Stake in stc pay for $200 Million

Western Union, an American worldwide financial services and communications company, has set out to acquire a 15% stake for $200 million in Saudi Digital Payments Company (stc pay), a fully owned subsidiary of Saudi Telecom Company. The transaction is expected

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Saudi E-Wallet STC Pay Selects Temenos to Expand Digital Payments Capabilities

STC Pay, a Saudi Arabian digital wallet, has selected banking software company Temenos to expand its digital payments capabilities, aiming to double its customer base by 2021. The e-wallet that was launched in late 2018, has chosen the API-first Temenos Transact

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Spiros Margaris Appointed to Saudi’s STC Pay’s Board of Directors

Spiros Margaris, Swiss venture capitalist and founder of Margaris Ventures, shared on Twitter that he would be a Board Member and Member of the Executive Committee of digital wallet STC Pay. STC Pay, a subsidiary of the Saudi Telecom Company,

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6 Fast-Growing Fintechs from Saudi to Keep a Close Eye on

These past few years have seen Saudi Arabia’s fintech sector gaining strong momentum, a growth that’s been fueled by favorable market conditions, the country’s dynamic startup ecosystem and booming funding activity. Between 2020 and 2021, the number of fintech companies

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Top 14 Most Well-Funded Fintech Startups in MENA

Forbes Middle East has released its annual ranking of the Top 50 Most-Funded Startups in the Middle East and North African (MENA) region. Out of these 50 companies, 14 are fintech firms, making the sector the most represented one across

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Arab Financial Services to Gain Capital Boost of US$98 Million

Digital payment solutions provider Arab Financial Services plans to raise US$98 million to boost revenue growth and strategic expansion. Shareholders of the company approved plans to increase the company’s authorised share capital to US$150 million, and its issued and paid-up

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Fintech Digest: Saudi Arabia’s Fintech Space Grows With 16 New Licenses

Saudi Arabia’s fintech sector has broadened, with licenses issued to 16 new fintech companies during the third quarter of this year (Zawya). According to the Saudi Central Bank governor, 13 of these companies come from the payments and electronic wallets

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India’s Cashfree Becomes Majority Holder in Telr With US$15m Investment

India-based payments and API banking solutions company Cashfree has picked up a majority stake in UAE and Saudi Arabia-based payment service provider (PSP) Telr for US$15 million. The strategic investment will enable Cashfree to launch its offerings across the MENA

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Fintech Digest: UAE, Singapore Pilot First-Of-Its-Kind Cross-Border Trade Finance Project

The Monetary Authority of Singapore (MAS) and Abu Dhabi’s Financial Services Regulatory Authority (FSRA) have completed a first-of-its-kind digital cross-border trade finance document transfer (Fintech Futures). This makes the initiative the world’s first cross-border digital trade financing pilot, a statement

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