Geidea, an Egyptian e-payments and fintech company, has announced a strategic partnership with Visa, one of the world’s largest digital payments companies, in order introduce Geidea’s cutting-edge payment solutions to the Egyptian market.
The two companies signed long-term strategic cooperation to streamline the services that play a crucial role in the growth of Egypt’s payment industry by offering the merchants of the region and SMEs innovative services such as pay-by-phone and electronic trading services.
As part of the strategic partnership, Visa will invest in improving Geidea’s POS terminals to accept more payment services, allowing the company to better serve merchants and small and medium-sized enterprises (SMEs) throughout the nation by offering them more convenient and secure payment options.
In line with Egypt’s Imaginative and prescient 2030, Geidea is “committed to aiding merchants and facilitating small companies to thrive in the digital financial system,” as disclosed by Geidea Egypt’s General Manager, Ahmed Nader. By supplying businesses with cutting-edge digital payment methods, our partnership with Visa will hasten digital transformation and monetary inclusion across the country. This will allow businesses to provide customers with a more convenient, secure, and streamlined checkout experience.
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Geidea seeks more partnerships to expand its operation
According to Ahmed Magdy, senior business director of Geidea Egypt, the company plans to use cutting-edge e-payments technology to provide customers with reliable and secure “Faucet-on-Telephone” payment methods. Geidea’s robust infrastructure enables us to provide the fastest PoSs to merchants and SMEs.
“Our company is continually seeking partners that can help us achieve our objective of offering people a seamless experience and the best possible solutions. As a result, we’re thrilled to partner with Visa, as Visa’s broad network is a major selling point for us in terms of providing our consumers with the most possible flexibility in their choices.
“As a result, we’re thrilled to partner with Visa, as Visa’s broad network is a major selling point for us in terms of providing our consumers with the most possible flexibility in their choices,” he added
Essam El Daly, Visa’s Head of Merchant Sales and Acquiring for North Africa, the Levant, and Pakistan, has stated, “Such strategic partnership enables us to advance the future of digital payments in the region, assuring smooth services to our customers and an enhanced market share for all of the parties involved.” These enabling tools are key to achieving the financial inclusion we seek through our work in Visa, as we carefully integrate the needs of both merchants and users in our solutions.”
About Geidea
Geidea is a leading and fully licensed payment service provider in the retail and online commerce industries, offering POS Terminals, business management solutions, and digital banking technology to financial institutions and small businesses alike.
The company was founded in 2008 by Saudi Arabian entrepreneur Abdullah Faisal Al-Othman with the goal of equipping merchants of all kinds and types with the resources they need to launch, manage, and grow their businesses. The company maintains the position that everyone should have easy access to cutting-edge financial and commercial technology that doesn’t break the bank.
Geidea, headquartered in Riyadh, has over 2000 employees and 150,000 merchants and provides support to over 700,000 fee terminals and ATM networks throughout the Kingdom, taking approximately 75% of the market share in the process. The company has also opened new branches in the United Arab Emirates and Egypt, and it has its sights set on opening in even more GCC countries in 2022.
About Visa Inc.
Visa Inc. is the biggest player in the electronic payments industry, processing billions of dollars worth of yearly business between consumers, merchants, banks, and governments in more than 200 countries and territories.
The company’s goal is to facilitate the growth of individuals, businesses, and economies all across the globe by establishing an international monetary system that is the most advanced, convenient, reliable, and secure in the world. Additionally, it believes that the future of monetary circulation lies in economies that are inclusive of and beneficial to all people everywhere.
