Geidea, a Saudi fintech Firm, Partnered with Visa to Expedite Digital Payments in Egypt

Geidea, one of the region's leading Fintech businesses by market capitalization, has entered into a strategic agreement with Visa, the global pioneer in digital payments, to deliver Geidea's advanced payment services to the Egyptian market.

As stated in a press release, as a component of the agreement, Visa will invest in implementing new payment options via Geidea's point-of-sale systems to enable secure and simple payment options for retailers and small and medium-sized companies in Egypt.

In an effort to solidify this assistance, which performs a significant role in the growth of Egypt's billing sector, the two parties agreed to sign a long-term strategic alliance to provide technological solutions to vendors and small and medium-sized businesses (SMEs) in Egypt, including compensation by phone networks and automated trading services.

As per the general manager, Ahmed Nader, at Geida Egypt, "In line with Egypt's Vision 2030, Geidea is devoted to assisting traders and small enterprises in thriving in the digital world." He further stated, "Our collaboration with Visa will drive technological change and financial inclusion across the nation by offering companies contemporary digital payment options, enabling them to give their consumers a simple, reliable, and smooth checkout encounter."

During an exclusive discussion with Arab News in August, Abdullah Othman, founder, and chairman of Saudi fintech business Geidea, stated that the Middle East and North Africa area is quickly expanding, and there is a rising demand for efficient payment options.

Geidea, which was established in Saudi Arabia in 2008, now manages over 700,000 payment terminals across the area, with 150,000 verified retailers comprising local and global companies, SMEs, and e-commerce companies.