Riyadh, Saudi Arabia: Geidea, a leading Fintech company in Saudi Arabia, has partnered with Wataniya Finance Company, a renowned finance company in the Kingdom to simplify loan financing and repayments for businesses based in Saudi Arabia.
Through this new partnership, merchants will be able to directly transact through Point-of-Sale (PoS) terminals by setting a percentage or amount of monthly revenue that will be automatically deducted towards their loan obligations. This automated solution will remove the friction of making cash or physical payments, thus automating the entire process and making it seamless and secure.
This partnership will combine Geidea’s highly valued technology that drives payments solutions with National Finance Company’s expertise to bring forward a service that will work to empower Saudi’s business-owners towards better financial wellbeing.
Abdullah AlShowaier, Chief Business Officer at Geidea, said: “We remain committed to support and boost entrepreneurs and SMEs across the Kingdom. It is often challenging for growing businesses to gain access to secure and seamless capital and financing. This partnership aims to help them automate their financial obligations, whilst giving them easy access to financial services making the process seamless and secure.”
Feras AlTuraif – CEO at Wataniya said: “Wataniya Finance offers a wide range of financing solutions for SME’s . Our customized solutions will provide personalized services to achieve the highest level of success to your business. This partnership will facilitate and promote business access to financing by our automated and unique services”
As a contributor to the Saudi Vision 2030’s objective to support startups and SMEs and increase digital transactions in the country, Geidea, through its innovative technologies, is providing a complete suite of payment, e-commerce and business management tools to help local businesses grow and scale.
Geidea operates more than 700,000 payment terminals (POS) across the region and with 150,000 trusted merchants, including regional and international brands, SMEs and e-commerce players
Geidea is a leading and fully licensed payment service provider offering digital banking technology, Point-of-Sale (POS) Terminals and business management solutions for both financial institutions and small businesses in retail and digital commerce. Founded locally in Saudi Arabia in 2008 by entrepreneur Abdullah Faisal Al-Othman, Geidea’s mission is to empower merchants of all types and sizes with the tools to start, manage and grow their business. The company believes that the latest payments and commerce technology should be accessible, affordable, and intuitive for everyone. Based in Riyadh, Geidea has more than 2000 employees, 150,000 merchants, and provides support to more than 700,000 payment terminals and ATMs networks within the Kingdom and capturing 75% market share in the sector. The company is rapidly expanding branches in several locations across the GCC, including UAE and Egypt, with an eye to further locations in 2022.
For detailed information, please visit: http://www.geidea.net/
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