Mastercard has expanded its collaboration with stc pay Bahrain to develop payments services for small and medium-sized businesses, extending a relationship that has already produced consumer card and online checkout offerings in the Kingdom.
The announcement centers on the wallet’s business portfolio, including its Mastercard Business prepaid offering. Mastercard said it would support further development of that portfolio and help shape stc pay Bahrain’s product plans.
Additional advisory, processing and security services are under consideration, alongside possible regional expansion.
Saud Swar, country manager for Saudi Arabia, Bahrain, Jordan and other Levant at Mastercard, said: “At Mastercard, we are passionate about working with innovative fintech players to accelerate digital transformation in the region and give small businesses the tools they need to operate more efficiently, securely and confidently. Our renewed collaboration with stc pay Bahrain on key card portfolios and future growth initiatives reaffirms our long-term commitment to driving innovation across the Kingdom’s digital payments ecosystem, especially for SMEs. We look forward to building on our productive relationship to enhance the digital wallet’s business portfolio, launch new programs and co-create value-added services."
Metin Zavrak, CEO of stc pay Bahrain, added: “Strengthening our relationship with Mastercard, our trusted partner in advancing Bahrain’s shift toward seamless, secure and convenient digital transactions, will fuel our next stage of growth. The collaboration will provide us with a robust foundation for evolving our business payment propositions with stc pay Bahrain and scaling new payment options for SMEs, enabling us to offer smarter, simpler and more empowering financial experiences to businesses across the Kingdom.”
Bahraini SMEs Still Rely on Personal Cards
The move comes against a backdrop of widespread interest in digital payments among Bahrain’s smaller businesses. In its SME Confidence Index findings, Mastercard reported that 96% of surveyed Bahraini SMEs regarded digital and online payments as critical to future growth. Yet 57% still used personal cards for business expenses.
Payment acceptance was already relatively widespread among respondents. Mastercard said 81% accepted mobile payments and 63% accepted online payments, while 48% operated through both physical and online channels. Those findings describe a business community already using digital tools, rather than one beginning from a largely cash-only position.
Respondents also identified areas where they wanted further development. Accepting digital payments across multiple channels was the leading growth opportunity cited, at 56%. Separately, 47% said they needed support improving physical and digital security.
Existing Tools Address Day-to-Day Administration
Business owners’ payment needs extend beyond making purchases. Employee salaries, supplier transfers, bills and incoming customer payments can each require separate administrative work. stc pay Bahrain’s business portal already groups accounts, cards, transfers, payroll and payment acceptance within one platform, according to its product website.
The provider says businesses can issue physical and virtual corporate cards, set spending limits and monitor transactions in real time. Its account tools also include subaccounts and configurable team access.
Payroll is another part of the offering. stc pay says its platform supports scheduled salaries and bulk payments through Bahrain’s Wage Protection System. Its website directs businesses to contact the company about payroll availability and pricing, rather than publishing a universal price in the relevant frequently asked questions.
A June 5 product update described the portal’s local and international transfers, beneficiary management and business bill payments. Those functions illustrate how the wallet’s business proposition encompasses routine financial administration as well as card spending.
The same update describes employee cards with individual limits and transaction tracking. In practical terms, those controls allow a business to assign spending permissions through the platform.
A Partnership Built Through Earlier Launches
The relationship predates the latest SME initiative. In January 2024, stc Bahrain announced a strategic partnership with Mastercard aimed at expanding stc pay’s digital payments and card offerings. That earlier announcement focused on subscribers and prepaid cards integrated into the wallet’s app.
The 2024 release also described local and international transfers and bill payments, with particular attention to serving expatriate workers who had previously lacked access to banking services. It provides background on a wallet originally associated with everyday consumer transactions before the current emphasis on business administration.
More recently, the companies announced Click to Pay on July 7, 2026. The feature enables eligible stc pay cardholders to complete purchases at participating online merchants without manually entering their card details, using device-based authentication and passkeys.
That July launch also uses tokenization, which substitutes digital tokens for sensitive card details. It addressed the checkout experience for cardholders, while the October collaboration focuses on expanding business payments services.
