Fintech company Geidea has entered into a strategic partnership with U.S. financial services provider Visa to accelerate its digital payment solutions in Egypt. Under the agreement, Visa will invest in launching new payment solutions through Geidea’s point-of-sale terminals to provide seamless and secure payment solutions to merchants and small and medium-sized businesses in Egypt.
“Geidea is committed to supporting merchants and helping small businesses thrive in the digital economy, in line with Egypt’s Vision 2030,” said Ahmed Nader, general manager at Geidea Egypt.
He added, “Our partnership with Visa will accelerate digital transformation and financial inclusion across the country by equipping businesses with modern digital payment solutions that enable them to provide a convenient, secure and seamless payment experience to their customers.”
Essam El Daly, Head of Merchant Sales and Acquiring for North Africa, Levant and Pakistan at Visa, said partnerships like these drive the future of digital payments in the region.
In August, Abdullah Othman, founder and chairman of Saudi fintech company Geidea, said in an exclusive interview with Arab News that the Middle East and North Africa region is proliferating and demand for convenient payment solutions is increasing.
Geidea was founded in Saudi Arabia in 2008 and currently operates more than 700,000 payment terminals across the region, with 150,000 trusted merchants, including regional and international brands, SMEs and e-commerce providers.