Deal Snapshot
Western Union Closes Acquisition of Saudi Digital Bank stc Bank
Wednesday 13 October 2021

US-based money movement and payments company The Western Union Company (NYSE: WU) has completed its acquisition of a minority stake in Saudi Arabian digital wallet service provider stc Bank, the company said.

stc Bank (formerly operating as Saudi Digital Payments company, or stc pay, which was a digital wallet service provider in Saudi Arabia) is in the process of launching as one of the first digital banks in the Kingdom of Saudi Arabia.

Date Published: 13/10/2021