Investor Presentation 2022
Our Fintech Arm
32
Investor Presentation 2022 | stc group
Subsidiary Overview
Date of
Incorporation
Capital
Subsidiary
Objective
stc Ownership
Registered Users
Partners
Business
Highlights
→ Founded in 2018
→ SAR 2.5 billion
→ stcPay is a digital secure wallet that empowers
individuals to take full control of their finances at
their fingertips anytime anywhere. Enabling users
to send, receive, spend, and manage money simply
through their phone.
→ The 1st digital bank in the Kingdom of Saudi Arabia
licensed by Saudi Monetary Authority (SAMA).
→ 85%
→ Reached 7.49 Million (since inception).
→ In November 2020, stc have signed an agreement
with Western Union to sell an equity stake of 15%
with a value of SAR 750 million (USD 200 million).
→ During Q2 2021, the Council of Ministers approved
granting stcpay a digital banking services license
to become a digital bank.
→ During Q3 2021, the regulatory requirements were
completed to conclude the agreement with WU.
→ The company extended its operations to be present
in Bahrain in which Bahrain Channels supporting
stcpay in expanding their partners and point of
sales, presence and coverage.
Offered Services
8
Transfer money
Send and receive money
with family & friends from
your contacts!
sic pay
18
α
Musaned
Local Transfer
Transfer money to a local
banks
Now you can transfer the
domestic workers' salaries
through Musaned service.
on stc pay in seconds!
Cash
withdrawal
stc
International
transfer
Transfer internationally to
more than 525,000 Western
Union agent
stc services
Pay your sto bills or
recharge your sawa number
Withdraw cash from your
mobile through ANB Bank
ATM or merchants
Purchases
Pay for your purchases from
merchants anytime,
anywhere
stc pay stc
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