stc Bahrain and AFS in partnership to launch next generation payment solutions across the Kingdom
February 24, 2021
24 February 2021 - Manama, Kingdom of Bahrain
stc Bahrain, a world-class digital enabler, and Arab Financial Services (AFS), the MEA region’s leading digital payments and FinTech solutions provider, have partnered to launch next generation FinTech payment solutions that will support both retail SMEs and customers across the Kingdom of Bahrain.
This partnership will see stc Bahrain leverage AFS state-of-the-art payments tools to rollout the all-in-one fully integrated stc Tajer PoS solution for retail businesses and SMEs. Powered by AFS, the stc Tajer PoS solution provides the flexibility to process payments, print receipts, accept online orders, manage point of sale application, delivery, and e-wallets, while lowering infrastructure investments, minimizing human errors, and making it easier for customers to transact digitally and seamlessly.
The partnership also expands the stc pay network, with AFS becoming the first acquirer in Bahrain to offer stc pay acceptance across their vast network of smart Android-based, integrated PoS (point-of-sale) terminals. Thousands of new merchants will now be enabled with QR contactless payments and added to the stc pay portfolio while stc pay subscribers can now easily and securely pay at any AFS PoS terminal.
Talking on the partnership, Eng. Nezar Banabeela, stc Bahrain CEO, said, “We are pleased to partner with AFS, enabling us to drive technology innovation and support Bahrain’s business sector and the community at large. Our partnership will widen the scope for us to achieve the desired growth and development while providing the opportunity to expand the scope of our digital financial transaction by providing integrated financial services. On the macro level, this partnership will enhance economic digitalisation and transform the way businesses conduct their operations, and the local community engages in contactless services for their varied needs.”
Commenting on this development, Mr. Samer Soliman, AFS CEO, said: “stc Tajer PoS solution, powered by AFS, will eliminate the need for SMEs to handle multiple suppliers and hardwares. With this partnership, we are streamlining merchant supply chains and giving them the technical solutions to accelerate and grow their business. Another level of this partnership will see AFS become the first acquirer in Bahrain to offer stc pay acceptance via our network of state-of-the-art PoS terminals. This will further support our merchants in conducting greater transactions and catering to the stc pay customer base. Joining forces with stc Bahrain is the first step in demonstrating our approach towards innovation and collaboration to better serve our customers with smart tools that enhance everyday transactions.”
This collaboration is in line with the Kingdom of Bahrain's digital transformation vision to develop modern, smart solutions for business partners and customers, thereby facilitating further investments in emerging FinTech technologies and contributing towards making the economy and quality of life more effective and efficient.
With a VAT-enabled integrated payment solution developed by AFS, stc Bahrain will be supporting retail companies, including pharmacies, restaurants, cafes, salons, gyms, and others, with the stc Tajer PoS solution, providing them with the flexibility to streamline their financial transaction processes into one system.
This collaboration will empower stc pay subscribers and people with no access to credit cards to instantly pay for different services for Bahrain residents, be it shopping, entertainment and others at over 5,000 merchants across 4,000 locations. The subscribers will also have access to stc pay as an additional payment method on all AFS PoS terminals. As the first integrated PoS terminals in Bahrain, AFS world class payment acceptance solutions give merchants and customers access to many value-added benefits including acceptance of all major card schemes, multi-lane integration for hypermarkets, dynamic currency conversion, loyalty programs, easy payment plans, analytics, bill payment and merchant lending.