Payment infrastructure by Innova
Innova provided a turnkey solution for the project including the design of infrastructure, software development, installing and operating the POS network to cover all of Saudi Arabia. This has been more than a solution provider position for Innova; beyond providing software and systems, Innova became a business partner for STC, generating revenue from each and every transaction.
System run by Innova
After a three year initial phase, the project is now into its second three-year period. With tech support from Innova offices in Istanbul and Ankara, a team based in Saudi Arabia is in charge of all operations to deliver the system to a wider base of subscribers. The sound infrastructure allowed incorporating numerous innovative applications such as collections and payments, mobile payments and cross-border fund transfers.
Innova is now a major business partner of Saudi Telecom Company following the implementation of the project.
About STC
Topping a USD 9,2 billion revenue in 2007, STC is the biggest telecoms operator in the Middle East with 17,8 million GSM, 5 million landline and 1 million broadband subscribers. STC group acquired 35% of Oger Telecom for USD 2,85 billion in 2008.