Mastercard Incorporated (NYSE:MA) has partnered with stc pay, Bahrain’s only comprehensive mobile wallet for all digital financial transactions, to launch the country’s first prepaid card. The new stc pay Mastercard Elite card will allow users to make purchases at millions of merchant locations within the Mastercard network.
This collaboration will help Mastercard to strengthen its presence in the Bahraini market. By integrating its services with stc pay’s platform, Mastercard will be able to reach a wider customer base and expand its influence in Bahrain’s digital payment sector. As more consumers adopt the stc pay Mastercard Elite card for their digital transactions, Mastercard expects to see an increase in transaction volumes, which will subsequently boost its revenue through interchange and transaction fees.
The partnership also allows Mastercard to leverage the innovative technology of a leading fintech company in Bahrain. The stc pay Mastercard Elite Card offers a variety of benefits, including unlimited cashback, family cards for easier payments, airport lounge access, hotel booking discounts, and comprehensive travel insurance. Customers have the option to choose between the Mastercard Elite Metal card and a classic design, adding flexibility to the offering. The card is also user-friendly, being accessible through the all-inclusive stc pay app.
This initiative aligns with Mastercard’s broader goal of promoting greater digitization across different countries. The growth of the digital economy, increased internet penetration, and higher smartphone usage continue to drive Mastercard to enhance its advanced payment solutions and strengthen its global digital presence.
Over the past year, shares of Mastercard have risen by 18.9%, compared to the industry’s growth of 16.6%.
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Author Stephanie Bédard-Châteauneuf 
