Mastercard & Geidea team to offer payment solutions in Saudi Arabia

By Delisha Fernandes

Mastercard has partnered with Geidea to offer consumers and businesses better access to advanced card and payment solutions.

As part of the agreement, Geidea will leverage Mastercard’s technology to issue BIN ranges and enable consumers, merchants, and FinTechs across the Kingdom to benefit from innovative payment solutions.

Geidea is a FinTech and 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.

Adam Jones, Country General Manager of MENA Central, said, “At Mastercard, we leverage technologies to modernise and deliver innovative solutions that unlock the true potential of inclusive growth and bring more people into the digital economy. Our multi-rail expertise and expanding suite of programs and services are designed to enable the FinTech ecosystem to build, launch and grow.”

“Together with Geidea, we will empower consumers, merchants and FinTechs to take full advantage of modern payment solutions,” added Jones.

The partnership will contribute to advancing Geidea and Mastercard’s digital enablement ecosystems. It will also lead to greater FinTech enablement across the country and wider region, enhancing the Saudi and MENA digital economies.

“As a company fully committed to making payments and commerce technology accessible, affordable, and intuitive for everyone, we are delighted to have joined forces with Mastercard to empower Saudi merchants, FinTechs and the Kingdom’s startup community.  In line with our work to support merchants of all types and sizes with the tools to start, manage and grow their businesses, our advanced card solutions will prime more local enterprises for success, enabling them to experience the full benefits of innovative payment solutions,” said Laurent Dhaeyer, Chief Strategy & Growth Officer, Geidea.