Cairo, Egypt – Geidea, a leading fintech company in the region, Advanced Computer Technology (ACT) the leading system integrator in the hospitality sector has forged a new strategic partnership to power the transformation of payments in the hotels and restaurants market in Egypt. The deal was signed on the sidelines of HACE- Hotel Expo, the leading exhibition for hotels and restaurants equipment in Egypt.
The partnership, which will see Geidea digital payment solutions plugged into ACT customers' existing technologies, will provide hospitality businesses with improved operational efficiencies by eliminating human errors that occur during the customer payment process on point-of-sale (POS) machines. With more than 34 years of experience in the hospitality sector, the agreement will allow ACT to empower nearly all high-end hotels and restaurants in Egypt with the ability to deliver a seamless payment experience to their guests.
Ahmed Nader, Country General Manager, Geidea Egypt said: "Geidea's new partnership with ACT represents an important step forward for us, as we set out to widen access to the benefits of the digital economy. Our solution will support hotels and restaurants by providing them with scope to optimize their revenue streams, simplify their operations and better serve their guests."
Sameh Elmallah, CEO, ACT said: "ACT is the digital transformation enabler for the hospitality sector. Now, through our partnership with Geidea, we are well-placed to transform the country's hospitality sector by providing seamless and incredibly cost-effective payment experiences. Through robust integration of Geidea's payment technology solutions, we can remove friction at the payment touchpoint so that thousands of hotels and restaurants across the country can focus on delivering a high-quality guest experience. In doing so, we are helping to unleash the power of digital solutions and build empowered cashless communities."
Ahmed Magdy, Commercial Senior Director & VP, Geidea Egypt added: "We are delighted to team up with Advanced Computer Technology (ACT) to advance the hotel guest experience through our innovative digital payment solutions that will improve hotel operations and increase their efficiency while reducing human errors in all payment transactions."
Mohamed Tawfik, ACT Hospitality Group CEO, we continue to grow and diversify our solution portfolio to cater to our customers' business demands. Partnering with Geidea, a leading fintech provider, is a major milestone in complementing ACT Hospitality's portfolio offerings to our clients in the Hotels and restaurants industry. We continue to deliver on our promise to enable our customers with the right and advanced technologies that keep them at the forefront of their guests.
ACT, which employs more than 450 professionals, is a one-stop-shop that serves more than 1000 hospitality customers worldwide, driving the digital economy through fully-fledged technology products, implementation services, and specialized solutions.
Geidea is a leading fintech and fully licensed payment service provider offering digital banking technologies, smart payment terminals, and business management solutions for both financial institutions and small businesses in retail and digital commerce across the region.
Since 1988, ACT was determined to play a pivotal role in contributing to the development of the ICT industry in Egypt. Today, ACT employs more than 450 professionals, which include more than 200 qualified engineers who have served more than 1000+ hospitality customers worldwide and implemented more than 700 professional service projects abroad.
ACT exists to realize unfulfilled possibilities for organizations by truly being their first-choice technology partner. ACT achieves this by accomplishing its mission of providing the markets they operate in with quality, value-added solutions and services that enable customers to achieve their business goals effectively and efficiently.
Capitalizing on its leadership in the Egyptian ICT industry as a prominent system integration organization, ACT International was founded as ACT's global subsidiary arm to venture into international markets. It was created to provide Oracle Hospitality (previously Micros-Fidelio) implementation and support services but eventually expanded to serve as a one-stop- shop for hospitality solutions and services. Broader installation and implementation services, specialized solutions that suit the hospitality market worldwide, consultation, and project management are just a few of the global services developed to serve more customers around the world. ACT International operates in the Middle East, Asia Pacific, Australia, France, and North Africa through dedicated offices in each region.
Geidea is a leading fintech and fully licensed payment service provider offering digital banking technology, smart payment terminals, and business management solutions for both financial institutions and small businesses in retail and digital commerce. Founded in Saudi Arabia, the company is expanding rapidly across the region with operations in UAE and Egypt and is targeting seven more countries in the next two years, serving both financial institutions and small and medium businesses.
Founded in 2008 by Saudi entrepreneur Abdullah Faisal Al-Othman, the company believes that the latest payments and commerce technology should be accessible, affordable, and intuitive for everyone. The company continues to focus on its mission of empowering merchants with the tools to start, manage and grow their businesses which is at the heart of what Geidea does.
Geidea has become the first non-bank entity in the Kingdom to obtain an acquiring license from the Saudi Central Bank "SAMA" to provide financial services directly to merchants and small and medium enterprises.
Geidea now has more than 2000 employees across all offices, with over 150,000 merchants, and provides support to more than 700,000 terminals within the Kingdom with a 75% market share. The company is proud to say that it is the biggest fintech company in Saudi and is ranked one of the top 25 fintech companies in the Middle East by Forbes.