Stripe has announced a new partnership with STC Pay, a leading digital payments provider in Saudi Arabia. The partnership aims to expand Stripe's presence in the Middle East and increase adoption of digital payments in the region.
Partnership Details
Under the terms of the partnership, Stripe will provide STC Pay with access to its payment processing technology, allowing STC Pay to expand its services to merchants and consumers across the Middle East. Additionally, Stripe will invest in STC Pay, further solidifying its commitment to the region.
The partnership marks Stripe's first major expansion into the Middle East, demonstrating the company's growing interest in emerging markets.
'We believe that the Middle East has significant potential for growth and adoption of digital payments,' said Patrick Collison, CEO of Stripe.