Saudi-based Geidea expands its footprint to UAE with Magnati
- Date: 31-Mar-2022
- Source: GCC Business News
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi-based Geidea expands its footprint to UAE with Magnati
Geidea, the largest Saudi-based fintech company in terms of market share, has partnered with Magnati, a regional leader in the payment solutions industry, to expand its operations to the UAE.
Under this partnership, Geidea will offer an extensive suite of value-added services and seamless payment solutions for UAE-based companies across retail, F&B, wholesale, hospitality and healthcare.
Geidea’s recent expansion into the UAE follows its launch in the Egyptian market last June as part of its vision to make payments and commercial technology accessible, affordable and intuitive to all.
Abdullah Al-Othman
Founder & Chairman
Geidea “Over a decade ago, Geidea began with the critical mission of reshaping the payments industry by building a suite of solutions that would make payments more accessible, affordable and intuitive for businesses of all sizes. Since then, we have grown into a market-leading business, with over 75 percent of the market share in POS terminals within the Kingdom of Saudi Arabia. Today I am proud to announce our expansion into one of the key digital economic hubs of the region, the United Arab Emirates, a long-trusted partner to Saudi Arabia.”
Partnership with Magnati
As part of the partnership, Magnati will provide institutional and government, merchants with an intelligent payments platform that monetizes data,