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Saudi Payments, a state-owned payment infrastructure provider, and Saudi Telecom Company's STC Pay, an integrated payment application, kicked off a partnership to develop its mobile wallet and collaborate on digital projects. STC highlighted that the collaboration would allow them to work with financial and technology driven enterprises to reduce dependence on cash in the country. 'Through this agreement, we aspire to raise the diversity level in services and solutions for all service providers and beneficiaries in order to achieve the maximum benefit from the unified infrastructure services provided by Saudi Payments,' noted Saudi Payments CEO Ziad Al Yousef.
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