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Western Union buys $200 million stake in STC Pay

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Western Union buys $200 million stake in STC Pay

Source: Bloomberg

Western Union Co. acquired a 15% stake in stc pay, a unit of Saudi Telecom Co. that’s focused on digital payments and financial technology services, for $200 million.

Saudi Telecom will inject 400 million riyals ($107 million) as additional capital stc pay and a further 802 million riyals if it manages to obtain a digital banking license, according to a statement.

stc pay is a financial company that launched a digital wallet mobile application in 2018. The e-platform provides digital and financial services to individuals and companies, and facilitates financial transactions and payments.

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(1/1) ErrorException

file_put_contents(): Only 0 of 248 bytes written, possibly out of free disk space
in Filesystem.php (line 122)
at HandleExceptions->handleError(2, 'file_put_contents(): Only 0 of 248 bytes written, possibly out of free disk space', '/var/www/wamda-frontend/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php', 122, array('path' => '/var/www/wamda-frontend/storage/framework/sessions/xfQ7tJdJNQrPCt7Zz2N8BVqDJJ14voCLYLd5geh6', 'contents' => 'a:3:{s:6:"_token";s:40:"aLoOb5LtgGccuuPjewjEuQTEPodHkzs1bcNh57mi";s:9:"_previous";a:1:{s:3:"url";s:90:"http://staging.wamda.com/index.php/en/2020/11/western-union-buys-200-million-stake-stc-pay";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}', 'lock' => true))
at file_put_contents('/var/www/wamda-frontend/storage/framework/sessions/xfQ7tJdJNQrPCt7Zz2N8BVqDJJ14voCLYLd5geh6', 'a:3:{s:6:"_token";s:40:"aLoOb5LtgGccuuPjewjEuQTEPodHkzs1bcNh57mi";s:9:"_previous";a:1:{s:3:"url";s:90:"http://staging.wamda.com/index.php/en/2020/11/western-union-buys-200-million-stake-stc-pay";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}', 2)in Filesystem.php (line 122)
at Filesystem->put('/var/www/wamda-frontend/storage/framework/sessions/xfQ7tJdJNQrPCt7Zz2N8BVqDJJ14voCLYLd5geh6', 'a:3:{s:6:"_token";s:40:"aLoOb5LtgGccuuPjewjEuQTEPodHkzs1bcNh57mi";s:9:"_previous";a:1:{s:3:"url";s:90:"http://staging.wamda.com/index.php/en/2020/11/western-union-buys-200-million-stake-stc-pay";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}', true)in FileSessionHandler.php (line 83)
at FileSessionHandler->write('xfQ7tJdJNQrPCt7Zz2N8BVqDJJ14voCLYLd5geh6', 'a:3:{s:6:"_token";s:40:"aLoOb5LtgGccuuPjewjEuQTEPodHkzs1bcNh57mi";s:9:"_previous";a:1:{s:3:"url";s:90:"http://staging.wamda.com/index.php/en/2020/11/western-union-buys-200-million-stake-stc-pay";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}')in Store.php (line 128)
at Store->save()in StartSession.php (line 88)
at StartSession->terminate(object(Request), object(Response))in Kernel.php (line 218)
at Kernel->terminateMiddleware(object(Request), object(Response))in Kernel.php (line 189)
at Kernel->terminate(object(Request), object(Response))in index.php (line 58)