Via Chris Donkin in mobileworldlive.com : The state’s underlying financial infrastructure is provided by Saudi Payments Company, underpinning interoperability across digital and traditional providers. It is owned by the country’s monetary authority and, among its goals, is to advance the use of electronic payment systems. Saudi Telecom Company subsidiary STC Pay noted the deal would allow it to partner with various financial and technology entities, and contribute to wider initiatives to reduce reliance on physical cash in the country.
