Geidea Becomes Payment Service Provider for Magnati as Part of UAE Expansion

Geidea Becomes Payment Service Provider for Magnati as Part of UAE Expansion

Launched in the Kingdom of Saudi Arabia (KSA) in 2008, Geidea operates around 700,000 payment terminals (POS) across the region and with 139,000 trusted merchants including regional and international brands, SMEs and e-commerce players. Geidea’s recent expansion into the UAE follows its launch into the Egyptian market in June 2021 and forms a part of its vision to make payments and commerce technology more accessible, affordable and intuitive. As part of its expansion, Geidea has partnered with the payment solutions provider Magnati for acquiring, issuer processing and acquiring processing. The partnership marks Geidea’s first major agreement in the UAE market and will see Geidea become a payment service provider (PSP) for Magnati, thereby facilitating digital payments acceptance. Moving forward, the partnership will enable Magnati to expand its cross-border business into Geidia’s current territory while boosting e-commerce and m-commerce capabilities for Magnati’s clients. Magnati’s tailored payment solutions will allow merchants to accept a wider variety of digital payments via a secure and single API integrated platform. “In line with our vision to deliver strong value to our partnerships, we are proud to collaborate with Geidea, who will simplify payment acceptance through Magnati’s payment solutions,” said Ramana Kumar , CEO of Magnati.