Cairo, Egypt – Geidea, a leading fintech company in the region, has announced its participation in the 2022 ‘Techne Summit’ in Alexandria as part of its commitment to unleash SME success and participation in the digital economy by expanding access to digital payment solutions.
Techne Summit is one of the world’s largest multi-industry focused investment and entrepreneurship events, bringing together technology startups, fintech companies, investors and some of the world’s most influential fintech innovators.
As the market leader in the Saudi Arabian market with a market share of 75%, and as the fastest growing payment service provider in Egypt. Geidea attended the summit to discuss the latest fintech solutions and to encourage investment and support for entrepreneurs and emerging companies in Egypt.
Geidea’s presence in Egypt has gained momentum since it entered the market in 2021. In just over a year, the company has served a growing network of more than 40,000 merchants.
Ahmed Nader, Country Manager at Geidea Egypt, said: “Our attendance at the Techne Summit 2022 aligns not only with our mission to unlock the potential of the digital economy in Egypt, but also with the Egyptian government’s ICT 2030 strategy to transform the nation into a digital society. As one of the MENA region’s largest and most recognizable fintech innovators, Geidea works closely with players across the Egyptian economy to expand access to enabling technologies and unleash success for entrepreneurs in all industry sectors.”
As part of its work at Techne Summit 2022, Geidea presented the full range of payment solutions and products for entrepreneurs and emerging companies, as well as discussed the latest solutions and technologies in financial technology.
Ahmed Magdy, Commercial Director at Geidea Egypt, said: “We fully support the strategies of the Egyptian state in its bid for digital transformation and look forward to working with all governments, private institutions and banks in the pursuit of an inclusive digital economy and greater financial inclusion. Geidea’s payment solutions and technologies are perfectly positioned to enable Egyptian customers to complete any financial transaction in seconds and help merchants across the country do more business in less time.”
Magdy continued: “We aim to reach a community of 3.4 million micro-enterprises, in addition to thousands of medium-sized enterprises. Our aim is to help them grow their business, achieve their ambitions and integrate them into the digital transformation process.”
Magdy also welcomed the cooperation with the Egyptian government in the digital transformation process and stressed that the environment for investment in Egypt is very encouraging, adding that the steps taken by the Egyptian government make the electronic payment market “a very promising one”. He described the fintech technology market in Egypt as “very attractive for investment and one that is open to all companies.”
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About Geidea
Geidea is a leading fintech and fully licensed payment service provider offering digital banking technology, smart payment terminals and business management solutions for both financial institutions and small businesses in retail and digital commerce. Founded in Saudi Arabia, the company is rapidly expanding across the region with operations in the UAE and Egypt and targeting a further seven countries over the next two years, serving both financial institutions and SMEs.
Founded in 2008 by Saudi entrepreneur Abdullah Faisal Al-Othman, the company believes that the latest payment and commerce technology should be accessible, affordable and intuitive for everyone. The company continues to focus on its mission to provide merchants with the tools to start, manage and grow their business, which is at the heart of what Geidea does.
Geidea has become the first non-banking entity in the Kingdom to obtain an acquisition license from the Saudi Central Bank “SAMA” to offer financial services directly to merchants and small and medium-sized enterprises.
Geidea now has more than 2,000 employees across all offices, with over 150,000 salespeople, and supports more than 700,000 terminals in the Kingdom with a market share of 75%. The company is proud to say that it is the largest fintech company in Saudi and is ranked as one of the top 25 fintech companies in the Middle East by Forbes.
