Middle East & Africa Paytech

Geidea Launches BETA Testing For New Payment Process Products In Saudi Arabia’s SME Market

Leading Saudi fintech company, Geidea has officially launched its BETA testing for a host of new state of the art digital payment processing and store management products. Merchants will be able to co-create product features alongside Geidea based on their needs, give feedback and suggest  new innovations.

The new digital product range will accommodate every type of SME through every step of the payment process with an all-in-one, affordable and attractive solution. This will not only include card and digital payment processing but also everything from e-commerce such as the website builder, e-invoicing and payment gateway to store and restaurant management software. Merchants will also be able to integrate solutions with their existing software or hardware, with third party providers like  courier services, and food delivery apps.

The BETA testing is due to last until August followed by a soft launch in September and a full roll out in October. The testing will ensure existing merchants are completely satisfied with the products before proceeding to the launch stage.

Riyadh, Saudi Arabia – GETTY

At present, Geidea has 70% of the market share in POS terminals that are sold to banks in Saudi Arabia and is number one in the market. In February, Geidea was the first fintech company to obtain a payment licence from the Saudi Arabian Monetary Authority, allowing it to operate in the Saudi banking market as a non-banking actor.

Now, Geidea plans to utilise its long standing legacy and its licence to empower merchants to start, grow or manage their businesses anytime and anywhere by providing them with the latest technological payment tools to do so.

Abdullah Faisal Alothman, Founder and Co-Chairman of Geidea

Abdullah Faisal Alothman, Founder and Co-Chairman of Geidea, says, “We are excited to launch our BETA testing and to co-create innovative product features with our merchants. Through this process, we will be able to gain valuable insight into what our merchants want from their payment process products and to tailor our services to their needs.”

He adds, “At Geidea, we are committed to helping SMEs thrive by providing them with customer centric and best-in-class payment solutions that until now, only bigger merchants and global chains had access to. For SMEs, these products will serve as the digital, inexpensive and agile solution to payment acceptance and business management. Our new products are designed for any business, whether they’re on the go, in-store or online.”

Geidea Financial Tech:

Geidea is a leading Saudi fintech company dedicated to providing the latest quality driven payment solutions to its customers in both the private and public sectors. Geidea was the first company to obtain a fintech license from the Saudi Arabian Monetary Authority, and aims to be a Middle East, Africa & South East Asia EMEA market leader in payment acceptance channels. In line with Geidea’s firm belief that payment solutions should be customised and customer-centric, its agile products use the latest tech to help businesses easily manage their cash flow and accept payment anywhere, anytime.

Creating an inclusive, forward thinking Saudi Arabian business community is at the heart of Geidea’s vision, supporting individuals, SMEs and the wider economy towards achieving the Saudi Vision 2030. By equipping regional SMEs with the tools to stay ahead of the game and thrive in their business ventures, Geidea aims to prove that anyone can make an impact in fast-changing Saudi Arabia.


  • Executive Economic Development Advisor (Emerging Markets) | Contributor

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