Saudi Telecom Company (STC) said that its investment arm, STC Pay, signed a memorandum of understanding (MoU) with the US-based Mastercard to provide international payment services.

 

Under this deal, STC Pay will allow its clients to own digital portfolio that will enable them to control their payments, CEO Saleh Mosaibah said.

 

STC’s unit will also allow customers to send and receive money from families and friends after launching their portfolios, he added.

 

In October, STC announced establishing STC Pay, an investment arm specialised in digital payments, along with providing financial technology services for individuals and companies.

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