STC Pay and digital bank users
14 million+ Saudis on STC Pay — fintech reached majority adoption
Thriving Economy pillar2 sourcesLast verified 2026-05-18
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STC Pay / digital bank users
14M+
202514 million+ Saudis on STC Pay — fintech reached majority adoption
Publishers include: Arab News · Argaam
The Story
Before
Saudi banking was bank-branch dominated. Digital wallets were nascent or absent.
Initiative
SAMA licensed STC Pay (now stc bank) — Saudi's first major digital wallet — and opened the regulatory framework to fintechs.
Outcome
STC Pay alone has 14 million+ users — close to a majority of Saudi adults. Other digital banks and wallets compete actively.
For citizens
Send money, pay bills, top up phones, receive Citizen Account payments — all from one app. No queue at a branch.
Timeline of Milestones
2020
STC Pay launched
2025
14M+ users on STC Pay/stc bank
Evidence library · 2 primary sources
Sorted by tier, newest first
Made-in-Saudi exports
A record SAR 624 billion in 2025
SAR 624B ($166B)
PIF: from sovereign fund to sector builder
Assets grew nearly 5× since 2016
SAR 3.41T
Global companies headquartered in Saudi
From 44 to 700+ in four years
700+
MENA's #1 venture market — Saudi startups, Saudi capital
$1.72B raised in 2025; +145% year on year; 257 deals (most in MENA)
$1.72B
Initiative attribution: SAMA digital licensing for fintechs; STC Pay (now stc bank); Saudi Open Banking framework. Citizen benefit category: Service quality.