Visa, stc pay

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Saudi Arabia’s stc pay, the digital wallet services entity, has struck an agreement with Visa to launch digital payment solutions to the former’s customers. The strategic partnership, involving a multi-year agreement, was signed via videoconference by Ahmed Alenazi, CEO of stc pay, and Ali Bailoun, Visa’s GM for Saudi Arabia. The new agreement — Visa’s first fintech partnership in Saudi Arabia — further builds on their partnership from 2018, and will involve issuance of Visa payment credentials to stc pay customers. This will enable them to use their stc pay digital wallet for contactless, scan-to-pay (QR-based) and eCommerce transactions, and international remittances.