Geidea, one of the region’s largest Fintech companies by market share, has announced a strategic partnership with Visa, the world leader in digital payments, to bring Geidea’s sophisticated payment solutions to the Egyptian market.
Under the strategic partnership, Visa
will invest in adding new payment solutions through Geidea’s Point-Of-Sale
terminals, to provide seamless and secure payment solutions for merchants and SMEs
across the country.
The two parties signed a long term
strategic partnership to provide innovative services to merchants and small and
medium enterprises (SMEs) in Egypt, including pay by phone services and the
electronic trading services, in bid to consolidate these services, which play
an important role in developing Egypt’s payment sector.
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. 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.”
Essam El Daly, Head of Merchant Sales and Acquiring for North
Africa, Levant and Pakistan, Visa said that
“Such strategic partnerships help us advance the future of digital payments in
the region, ensuring seamless services to our clients and an increased market
share for all 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.”
Founded in 2008, 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.
Source: ATS