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Tag: Geidea

  • Geidea set to launch innovative SoftPos service in Egypt

    Geidea set to launch innovative SoftPos service in Egypt

    Geidea, a prominent Middle Eastern supplier of digital payment solutions, is scheduled to introduce its ground-breaking SoftPos service in Egypt after a successful two-year rollout in Saudi Arabia and the United Arab Emirates. The company made the announcement on Wednesday.

    This growth is a major turning point in Geidea’s plan to propel digital change in the area by providing customers and businesses with a cutting-edge, safe, and easy payment experience.

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    Only smartphones, no need for traditional PoS machines for transaction

    Geidea, the first firm in the Middle East and North Africa (MENA) region to develop SoftPos solutions, has completely changed the payment landscape since its debut in Saudi Arabia. This technology removes the requirement for conventional point-of-sale (POS) machines by allowing retailers to accept payments via smartphones.

    Businesses of all sizes may process secure contactless payments straight from smartphones with SoftPos, which satisfies MPOC and CPOC requirements. This greatly increases the accessibility and efficiency of payments.

    Geidea’s SoftPos service immediately became popular in Saudi Arabia, establishing a strong network of thousands of merchants throughout the Kingdom. Because of the service’s success in Saudi Arabia and the United Arab Emirates, it will soon be launched in Egypt, where the company hopes to equip merchants with cutting-edge payment solutions that improve business operations and give customers more simple payment options.

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    Geidea’s SoftPos guarantees security 

    The SoftPos solution from Geidea is a component of the company’s larger plan to implement cutting-edge payment technologies that satisfy the changing demands of contemporary enterprises.

    The business prioritises security and makes sure that all transactions are carried out under the strictest international guidelines for financial transaction safety and data protection. This is in line with Geidea’s objective to give customers and merchants a smooth, safe, and future-proof payment experience.

    Geidea, a major force in the Middle East’s digital payments industry, has taken the lead in Saudi Arabia and is well-positioned to expand into other regional markets like Egypt and the United Arab Emirates.

    By giving businesses new methods to handle payments and improving the customer experience in a world that is becoming more and more cashless, the company’s creative solutions are advancing the digital economy.

  • Egyptian Fintech Geidea Partners With Visa To Accelerate Digital Payments

    Egyptian Fintech Geidea Partners With Visa To Accelerate Digital Payments

    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.

    Read also: Finastra and Visa Launch Global BaaS Offering via Visa Direct Integration

    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.