Saudi-founded Geidea partners with Visa to bolster digital payments in Egypt

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Cairo – Geidea, a Saudi financial technology (fintech) company, has signed a long-term strategic partnership agreement with Visa to deploy Geidea’s payment solutions in the Egyptian market, according to a press release.

Under the agreement, Visa will provide new payment services through Geidea’s point of sale (POS) terminals and offer seamless and secure payment solutions for merchants and small and mid-size enterprises (SMEs) across the Arab Republic.

The two parties will enable merchants and SMEs to use digital operations, including pay-by-phone as well as electronic trading services.

Ahmed Nader, General Manager of Geidea Egypt, said: “Geidea is committed to supporting merchants and helping small businesses to thrive in the digital economy, in accordance with Egypt’s Vision 2030.”

Nader added: “Our partnership with Visa will accelerate digital transformation and financial inclusion across the country by providing businesses with modern digital payment solutions – empowering them to provide a convenient, secure, and seamless checkout experience to their customers.”

Last March, Geidea collaborated with Magnati to scale up its businesses in the UAE across the retail, food and beverage, wholesale, hospitality, and healthcare sectors.