Riyadh, Saudi Arabia: Geidea, a leading Fintech company in Saudi Arabia, has partnered with Wataniya Finance Company, a renowned finance company in the Kingdom to simplify loan financing and repayments for businesses based in Saudi Arabia.
Through this new partnership, merchants will be able to directly transact through Point-of-Sale (PoS) terminals by setting a percentage or amount of monthly revenue that will be automatically deducted towards their loan obligations. This automated solution will remove the friction of making cash or physical payments, thus automating the entire process and making it seamless and secure.
This partnership will combine Geidea’s highly valued technology that drives payments solutions with National Finance Company’s expertise to bring forward a service that will work to empower Saudi’s business-owners towards better financial well-being.
Abdullah AlShowaier, Chief Business Officer at Geidea, said: “We remain committed to supporting and boosting entrepreneurs and SMEs across the Kingdom. It is often challenging for growing businesses to gain access to secure and seamless capital and financing. This partnership aims to help them automate their financial obligations, whilst giving them easy access to financial services making the process seamless and secure.”
Feras AlTuraif – CEO at Wataniya said: “Wataniya Finance offers a wide range of financing solutions for SMEs. Our customized solutions will provide personalized services to achieve the highest level of success for your business. This partnership will facilitate and promote business access to financing through our automated and unique services”
As a contributor to the Saudi Vision 2030’s objective to support startups and SMEs and increase digital transactions in the country, Geidea, through its innovative technologies, is providing a complete suite of payment, e-commerce, and business management tools to help local businesses grow and scale.
Geidea operates more than 700,000 payment terminals (POS) across the region and with 150,000 trusted merchants, including regional and international brands, SMEs, and e-commerce playersSource: Zawya