Saudi bank pens STC bill payment deal

The Al Rajhi Banking and Investment Corporation has signed an agreement with Saudi Telecommunications Company (STC) to introduce a direct telephone bill payment service through its electronic channels.

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By  Patrick Phelvin Published  November 11, 2003

The Al Rajhi Banking and Investment Corporation has signed an agreement with Saudi Telecommunications Company (STC) to introduce a direct telephone bill payment service through its electronic channels.

The deal will allow the Saudi bank’s customers to pay their telephone bills over the internet, as well as through channels such as telephone banking, ATMs and mobile banking (WAP). Al Rajhi, which recently launched a new internet banking portal, says the move is further evidence of its commitment to electronic banking.

The agreement gives additional benefits to STC customers who have been disconnected, by paying through electronic channels they do not have to wait the requisite 24 hours before service is reinstated. Al Rajhi says it has finalised all necessary preparations to apply the new system.

The bank has already provided a similar service in cooperation with the Department of Water and Sewerage. Al Rajhi now maintains the biggest network of ATMs throughout the Kingdom, in excess of 780 locations, which implement this service in addition to many others.

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