Metin Zavrak, CEO of stc pay Bahrain, has announced significant plans to expand the mobile wallet’s footprint throughout the GCC and the wider Middle East. The initiative, described as a “bigger push from the whole group,” signals a strategic move by the Saudi Telecom Company (stc) subsidiary to scale its operations beyond the Kingdom of Bahrain, targeting neighbouring countries and eventually North Africa.
A Group-Wide Regional Push
Speaking at the Fintech Forward 2025 event in Bahrain, Zavrak confirmed that active discussions are underway to enter new markets. He identified Kuwait and Syria as the most imminent opportunities for expansion. However, the company’s ambitions do not stop there. “We are also exploring other countries. We’re looking at GCC. We are exploring Jordan, Oman. All these countries are on our radar,” Zavrak revealed, outlining a comprehensive strategy for regional growth.
Riding a Wave of Rapid Growth
Since its establishment in 2023, stc pay Bahrain has experienced what Zavrak termed “amazing growth due to the market’s high interest.” The company is aiming to double this growth year-on-year, with the ambitious goal of reaching “half of the population very soon.” To support this trajectory, the Bahrain-based development team is leveraging AI and chatbots to create personalized offers and efficiently address customer challenges, enhancing user experience and engagement.
The Super App Vision
Zavrak shared his vision for the future of the fintech sector, predicting a shift where mobile wallets evolve into all-encompassing super apps. He believes physical wallets will become obsolete as everyday financial activities consolidate onto mobile platforms. “Day-to-day payments, transferring money, investments, and insurance will come and plug into all these mobile wallets,” he explained. “It will be like a super app that enables you to implement transactions through your phone.”
Tackling Talent and Speed Challenges
Despite the rapid growth, Zavrak highlighted talent acquisition as the most pressing challenge in the current technological landscape. “You need to attract people to implement your vision… People are looking for global companies, and they are trying to go there. You are still trying to retain the local talent,” he stated. Another significant hurdle is the speed of delivery. “For me as well, the challenge is to deliver fast because this is a race,” Zavrak added, emphasizing the need for a strong team and development push to keep pace with market demands.
From Wallet to Digital Bank
Looking to the future, stc pay Bahrain aims to follow the evolutionary path of its Saudi counterpart, which transitioned from a payment service into stc Bank after receiving a digital banking license. Zavrak expressed a clear ambition for the Bahraini entity to eventually make a similar transition from a mobile wallet into a full-fledged digital bank, further cementing its position in the region’s financial ecosystem.
About stc pay Bahrain
Launched in 2023, stc pay Bahrain is a mobile wallet and a subsidiary of Saudi Telecom Company (stc). It offers a range of digital payment services, including international remittances and bill payments, to both stc and non-stc customers. The platform is designed to simplify daily financial transactions and increase accessibility to financial services in Bahrain.
Source: Fintech News Middle East
