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Did you know that by 2026, over 60% of the global population will be using mobile wallets?
The core cause of this explosive growth is that digital wallets offer something traditional banks often don’t—convenience, speed, and trust.
In many parts of the world, that’s already happening. STC Pay, for example, is functioning like a digital-first bank for millions.
No more standing in line to pay bills or carrying cash at the store. With STC Pay, you send money, pay bills, and make purchases in just a matter of minutes.
The app is fast, secure, and fully regulated by the Saudi Central Bank, which is why it’s become a trusted name in digital finance.
If you’re considering building a digital wallet like STC Pay, consider investing in our mobile app development company in Dubai.
In this article, we will outline a proven process for creating an app like STC Pay, including its cost, key features, and the underlying technology.
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STC Pay is a secure and easy-to-use digital wallet that enables users to send, receive, and manage money conveniently via mobile.
It offers users seamless peer-to-peer money transfers, bill payments, international remittances, and merchant payments—all within a secure mobile app interface.
As a product of Saudi Telecom Company, the STC pay app has gained wide adoption in the GCC region:
Backed by a full banking license and integrated with Saudi Arabia’s regulatory ecosystem, it’s a prime example of a successful fintech venture in the Middle East.
Also Read: “Check Out these 12 most reliable money-earning apps in the UAE that let you start earning right away — no investment needed.”
Creating a digital wallet like STC Pay is a complex, multi-disciplinary project that involves fintech development, security, compliance, and UX/UI design.
You will be working in a highly regulated, security-sensitive, and user-expectation-heavy environment for enormous rewards later.
Here is a step-by-step process to create an app like STC Pay:
The development process for a digital wallet like STC Pay starts with a thorough understanding of your target market and existing regulations in that region.
Understand who your target users are, whether they are everyday users, freelancers, or small businesses, to shape everything from design to features.
You should go the extra mile to study competitors’ apps like Tabby, Paytm, Venmo, and Cash App.
Look at what they do well and where they fall short—those gaps could be your opportunity.
The legal side of things matters the most here; for instance, if your target market is Saudi Arabia, it’s paramount to adhere to the Central Bank’s regulations.
Remember, these regulatory approvals take months to navigate, including licenses, compliance paperwork, and the necessary steps to operate legally.
Therefore, it is best to work smartly and initiate this process concurrently with product development.
An app design can make or break your success. Some studies suggest that a good UI/UX design can increase potential by up to 400%.
You should ensure that users send money, check balances, and pay bills without confusion.
Here are a few tips to further enhance your app design experience:
For those willing to stick with the app product for a long time, a great user experience that feels safe and easy is a way forward.
Nothing goes perfectly on the first try, so don’t try to launch the next super app from day one.
Our mobile app development company in Saudi Arabia recommends you to start with a minimum viable product first.
Since 72% of startups use an MVP approach, so should you. This initial version of your app product will help you get very effective feedback and avoid mistakes.
You should ensure that you add only the requisite features and functionalities in this prototype to measure the success rate.
Now, launch this version to beta testers and watch how they use it. Utilize these valuable insights to address friction points before a full public release.
When you’re dealing with people’s money and personal information, security becomes absolutely critical.
Your users are trusting you with sensitive data, and that trust can’t be taken lightly.
Build your digital wallet like STC Pay with security at the core. Here are the best app security practices to avoid any room for compromise:
Last but not least, you can’t overlook data compliance. To outpace competitors, strictly adhere to compliance laws such as GDPR, CCPA, or local privacy laws.
To let users add or withdraw money from their wallets, you’ll need to connect with the right financial partners.
This typically means integrating with banking systems either through APIs or direct partnerships.
Additionally, consider incorporating trusted payment gateways such as Stripe, PayTabs, or Checkout.com.
You may also need access to card networks such as Visa and Mastercard.
When choosing your partners, look for APIs that are well-documented, reliable, scalable, and compliant with your local regulations.
If Open Banking is available in your region, it’s worth exploring to provide a more secure and transparent experience for your users.
Your wallet app, like STC pay, needs to be rock-solid before going live.
To ensure its reliability, you need to run comprehensive quality assurance tests to catch any issues early, like:
Focus your testing on three key areas: Functionality, Security vulnerabilities, and User experience.
The functionality tests are primarily conducted to check how everything works.
At the same time, security tests help mobile app developers in Bahrain to identify and address any vulnerabilities.
The last, user experience testing, will help you ensure that the wallet provides an exciting and intuitive experience.
Remember, you only get one shot at a good first impression. So, exert maximum effort to make it count.
Once everything is wrapped up, it is time to launch your STC pay-like wallet into the tech market.
You should launch with confidence, but stay tuned in—this is when you’ll start learning the most from your users.
Keep a close eye on how people are using your product by monitoring usage and error logs.
Actively gather feedback through in-app surveys or support tickets to understand what is working and what is not.
Move quickly to fix bugs, respond to user needs, and roll out improvements.
Several tools like Firebase, Mixpanel, or Amplitude to track user behavior, showing where people drop off, which features they love, and where you can do better.
Ultimately, fintech app development is an ongoing process. You should continually iterate and scale to set yourself apart in the market.
Those who use a mobile wallet to pay for groceries, transfer money, or settle bills already know how convenient it is.
However, like any ambitious tech project, it requires careful planning, substantial investment, and a deep understanding of the complexities.
It is not a small investment, but the rewards can be immense, particularly in a market that’s moving toward a cashless future.
On average, a digital wallet app like STC’s typically incurs a pay cost of between AED 60,000 and 120,000, depending on multiple factors such as development, infrastructure, licensing, security, and compliance.
Here is a quick overview of how much a digital wallet app like STC can cost you:
| Type of Wallet | Estimated Cost | Timeline |
| Small MVP | AED 40,000 – AED 60,000 | 3 – 6 months |
| Mid-scale Wallet | AED 80,000 – AED 90,000 | 6 – 9 months |
| Enterprise-level Wallet | AED 100,000 – AED 120,000+ | 9 – 18 months |
Remember, the total cost can vary significantly depending on the scope, region, and technology choices. For an exact project quote, use our app development cost calculator.
If you are looking to launch quickly or want to minimize upfront costs, a white-label wallet platform could be an option.
They are ready-made solutions that allow for some customization and can be launched at a lower cost, typically ranging from AED 30,000 to AED 100,000.
However, white-label digital wallets might not serve the same level of flexibility or the unique user experience that can be achieved with a customized one.
In contrast, building a digital wallet from scratch allows for full control over the user experience, features, data ownership, and long-term scalability.
A custom digital wallet development could be pricey, typically AED 250,000 to AED 300,000 million+, and a longer development cycle of 6 to 18 months.
It might still go up or down; that depends on the cost of infrastructure, security, compliance, and a dedicated development team.
Remember, the actual cost will vary depending on a number of factors that are part of your fintech app development.
This may involve a chosen development approach (in-house team, outsourcing, or a white-label solution), app complexity, and target region.
For fintech startups and established banks alike, the massive adoption of digital wallets is both a challenge and an opportunity.
The STC Pay’s success in the Gulf region proves that a massive demand for digital financial services is here to stay.
But are there certain features that app development experts in Kuwait should consider for a successful e-wallet like STC Pay?
We have outlined the non-negotiable features you need to build user trust, drive engagement, and scale effectively.
A mobile wallet must be intuitive, clean, and easy to navigate.
Users should be able to perform core functions like sending money or checking their balance without needing a manual.
A frictionless user experience builds trust and encourages repeat usage.
Peer-to-peer (P2P) transfers are at the core of wallets like STC Pay.
What if users want to split a bill, pay a friend back, or send money to family? This feature needs to be fast, reliable, and transparent in its fees.
Users should be able to link their bank accounts or debit/credit cards to their wallet. This makes loading funds, withdrawing money, and making payments much more flexible.
To keep users engaged, consider incorporating reward systems, cashback programs, and points systems.
Not only do these increase app stickiness, but they also incentivize higher transaction volumes.
When users face an issue, they want answers fast.
A built-in support center, chatbot, or live agent chat feature can greatly improve user satisfaction.
You should ensure that users receive notifications for when a payment is processed, account logs, or when there is an important update.
Casual alerts for special offers and promotions are also a very effective practice to persuade users to come back for more.
Simply put, notifications and alerts help users stay informed, reduce fraud, and enhance the overall wallet experience.
Digital records of every transaction for user peace of mind.
Every transaction your users make should come with a clear, digital record.
eReceipts are automatically generated for each payment and can be easily shared via email, WhatsApp, or other messaging apps.
Users should be able to view or download them anytime they need a copy for personal records, reimbursements, or customer support.
Competing makes you stronger. Similarly, in the fintech industry, STC Pay is no longer the only big player.
There are several of the best STC Pay alternatives out there waiting to be explored based on your lifestyle, device, and financial needs.
Tech giants like Apple Pay and Google Pay, as well as powerful local offerings like Urpay, mada Pay, and SNB QuickPay, are just a few examples.
Let’s start with Urpay first.
Urpay is a rising star in Saudi Arabia’s digital payment ecosystem.
Developed by Al Rajhi Bank, it offers a well-designed mobile wallet that supports international transfers, bill payments, and even virtual cards for online shopping.
What sets this STC pay alternative apart is competitive exchange rates for remittances and integration with local services like SADAD.
For iPhone users, Apple Pay is the best and secure way to pay right from your device.
Apple Pay works with most Saudi banks and supports both online and in-store payments via NFC.
It’s fast, encrypted, and integrated deeply into the iOS ecosystem. You can easily use it on iPhone, Apple Watch, iPad, and MAC.
Google Pay has grown rapidly to support users in Saudi Arabia and globally.
They offer an exciting experience for Android users, enabling NFC-based payments, in-app purchases, and secure online transactions.
Luckily, a large number of local banks have started supporting Google Pay, making its reach more likely to expand.
While not a wallet in the traditional sense, PayTabs is a powerful payment gateway used widely by businesses across the MENA region.
Unlike STC pay app alternatives, it’s ideal for small businesses and freelancers who need a secure platform for collecting online payments and managing transactions.
Something that makes it way beyond useful includes multi-currency support, solid fraud detection mechanisms, and custom APIs
Developed by the Saudi Payments Network (mada), mada Pay is a mobile wallet focused on local usage.
It allows users to digitize their mada cards and pay using NFC at any POS terminal that supports contactless payments in the Kingdom.
Mada Pay might be at the top of the list of best STC pay alternatives due to its backing by local financial authorities and NFC support at retail stores.
When it comes to international e-commerce and freelance work, PayPal remains unmatched.
Although it may not be as popular for in-store payments in Saudi Arabia, PayPal is a suitable alternative to digital wallets like STC Pay.
It works impeccably for online purchases and sending and receiving money globally.
Alinma Bank offers a feature-rich mobile banking app that doubles as a secure payment solution.
It includes money transfers, bill payments, SADAD services, and QR code-based payments.
While not a standalone wallet, it serves many STC Pay functions with direct bank integration.
Also Read: “Curious about a flexible app with payment options? Check out our latest article on apps like Tabby that let you buy now and pay later.”
If you’re a Samsung device user, Samsung Pay is a fantastic option.
It supports both NFC and MST technologies, allowing payments at virtually any terminal.
Samsung Pay is integrated with most major Saudi banks, offering a rewarding and secure experience.
Al Rajhi Bank’s app is another powerful tool that integrates banking and payments.
With features like Quick Transfer, international remittances, digital cards, and Apple/Google Pay integration, it’s a solid STC Pay alternative.
If you are already familiar with Al Rajhi banking, this digital wallet is going to make things way easier.
SNB QuickPay, offered by the Saudi National Bank (SNB), is a reliable way to send international remittances quickly and affordably.
Their banking services heavily focus on sending money to countries such as India, the Philippines, Egypt, and others.
It’s not as popular as STC Pay, but you can still enjoy competitive fees and exchange rates.
When building a digital wallet app, your technology choices matter quite a bit.
The tech stack you choose will shape how your app performs, scales, integrates with financial systems, and meets security standards.
The key is to choose tools your development team is comfortable with to avoid unnecessary complexity early on.
You always have a chance to optimize or switch components as your app scales. Here is a breakdown of a technology to use for building an app like STC Pay:
| Category | Recommended Technologies |
| Frontend (Mobile) |
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| Backend |
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| Database |
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| Cloud Hosting |
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| Third-party Integrations |
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| Security |
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On the surface, STC Pay appears to be a straightforward, user-friendly app that simplifies your financial life.
However, behind the scenes, it’s powered by a smart business model designed to generate revenue through multiple streams, without always charging you directly.
To help you better explore their business model, we will break down exactly where their money comes from.
| Revenue Source | How STC Pay Makes Money |
| Transaction Fees | When you send money abroad, STC Pay charges a small fee. They also earn a bit from currency exchange rates. |
| Merchant Commissions | Stores that let you pay with STC Pay give the app a small cut of each sale, similar to how card machines work. |
| Premium Features | Want more features or higher limits? STC Pay might offer upgraded plans for a small monthly or yearly fee. |
| Partner Deals & Ads | Those special offers and discounts? Brands pay STC Pay to promote them to users like you. |
| Interest on Wallet Balances | When money sits in your wallet, STC Pay may safely invest it and earn a little interest, without touching your funds. |
| Bill Payment Commissions | When you pay bills through the app, STC Pay may earn a small commission from service providers. |
| Lending & Credit (Future Potential) | In the future, STC Pay may offer small loans or “Buy Now, Pay Later” options, earning revenue from interest or service fees. |
Building your own digital wallet like STC involves is incredibly complex and has a fair share of challenges.
It requires considerable effort to ensure everything operates smoothly, securely, and in compliance with strict financial regulations.
Here are a few of the real challenges involved in creating a digital wallet like STC Pay:
If your target is Saudi Arabia, the UAE, or Oman, these countries have compliance laws and regulations that you can’t overlook.
You must obtain security licenses, obtain approval from central banks, and adhere to strict compliance measures, including KYC and AML policies.
For instance, a failure to adhere to these laws will result in a fine of AED 50,000 for minor breaches to AED 5 million for severe violations.
A wallet like STC Pay, which operates under the Saudi Central Bank, this process can be both rigorous and time-consuming.
And if your app allows cross-border transactions? That’s a much tougher scenario of complexity.
When people trust your app with their money, you can’t afford to cut corners on security.
A single vulnerability can result in significant financial loss and eroded trust.
From day one, security must be a top priority for fintech app development.
It includes encrypting data, monitoring for fraud, protecting against account takeovers, and ensuring your APIs are secure.
You also need strong authentication, think biometrics or two-factor login, and a solid incident response plan.
Also Read: “New to Dubai, UAE? Whether you’re visiting or settling in, these must-have apps will make your life a whole lot easier!”
To develop a wallet like STC Pay that works smoothly for thousands, or even millions, is often challenging.
Digital wallets usually have high traffic. If your infrastructure isn’t ready for peak usage, things can break quickly.
You may face slowdowns, failed transactions, or even full outages that can cost you a lot.
The more features you add, like instant transfers or bill payments, the more moving parts there are to manage.
You’ll need to design your system to be resilient, scalable, and ready to handle usage spikes without interruption.
Even if your wallet works perfectly under the hood, users won’t care unless the experience feels smooth and intuitive.
If onboarding is clunky, if menus are confusing, or if payments require too many steps, users will abandon the app and likely never return.
Your prime goal should be to make every aspect of your app, sending money to a quick QR scan, feel simple and fast.
Since it works for people of all ages and tech skill levels, and supports multiple languages, you can’t compromise the accessibility.
For a wallet to work in the real world, it has to talk to banks, payment processors, and remittance networks.
These integrations are rarely straightforward; you will need APIs to move money between accounts, handle real-time balances, and support in-store payments.
The main issue is that each partner has its own systems, protocols, and quirks.
Some use outdated tech, some have slow response times, and some go down more often than you’d like.
You’ll need a smart integration strategy that includes fallback options and clear communication with partners.
Even after you’ve launched your wallet, the work doesn’t stop due to evolutions in addition to regulations.
Competitors keep releasing new features based on the shift in user expectations. What feels modern today could be outdated in six months.
To stay relevant, you need to invest in continuous improvement — from feature upgrades and UI refinements to backend optimizations and compliance updates.
The modern fraudsters have become very creative.
They will exploit loopholes, use fake documents, and manipulate systems in ways you didn’t think were possible.
You need intelligent fraud detection systems that flag suspicious behaviors, such as sudden transfers, mismatched fingerprints, or suspicious login attempts.
This fight against fraud is not a joke. It risks your whole investment and efforts.
Your mobile app development company in Qatar needs operational vigilance, human review, and keeping in check with new scams.
Building a wallet like the STC Pay app is an ambitious, exciting, and impactful endeavor.
It often appears daunting at first, yet it is absolutely doable with the right planning and execution.
But it’s also a serious responsibility, especially when it comes to data protection and financial regulations.
At Trango Tech, we have helped startups and financial institutions build powerful, secure, and scalable digital products.
With 20+ years of tech experience, we perform fintech app development with precision, compliance, and a user-first approach.
We’ve partnered with banks, telecom operators, and financial institutions across the Middle East.
Our app development company in Saudi Arabia powers thousands of daily transactions and millions of user interactions.
If you’re considering launching your own wallet or fintech product, partner with our seasoned tech team.
Globally, apps like PayPal, Apple Pay, and Google Wallet are hugely popular. Meanwhile, in the Middle East, STC Pay, UrPay, and mada Pay are leading the charge. To be precise, the choice often comes down to what features matter most to you, like international transfers, bill payments, and ease of use.
Yes, of course, you can use STC pay out of Saudi Arabia, subject to certain limitations. STC Pay is mainly designed for users with a valid Saudi mobile number and national ID or Iqama. While you may be able to access the app abroad if your account is already active, some services may not function properly outside Saudi Arabia, especially without local banking connections.
As of now, STC Pay is the most widely used and recognized digital wallet in Saudi Arabia. It’s backed by the Saudi Telecom Company and is fully licensed by the Central Bank, which gives it an edge in terms of trust and functionality. It’s used for everything from P2P transfers, utility bills, and shopping.
There are several great STC pay app alternatives available currently, all of which depend on your specific needs:
Each of these STC pay alternatives has different strengths, so it’s worth trying a couple to see which suits your needs best.
STC Pay in Qatar generates revenue by charging fees on specific transactions, including international transfers, currency exchange margins, and premium services. It also partners with brands for promotions and cashback deals, collecting commissions in return.
STC Quick Pay in Bahrain is generally reliable for topping up prepaid STC lines and sending international remittances. However, like any digital service, there could be performance issues. If this is the case for you, reach out to their support team, and you will find them to be pretty responsive.
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Daniyal is a passionate content writer & editor with 3+ years of experience crafting SEO-friendly blogs, web copies, and marketing content for an mobile app development company. He loves turning ideas into words that connect, engage, and deliver value. Currently working as a Senior Content Writer at Trango Tech, Daniyal holds a bachelor's degree in English Language and Literature.
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