Saudi telecom giant's arm strikes partnership with fintech to ease digital payments for Saudi SMEs
Saudi fintech Geidea has signed a partnership with the Saudi telecom giant's sales and distribution arm, channels by stc, to simplify digital payments for small firms in the Kingdom, according to a statement.
Geidea said its service will improve digital payments on the telecom firm’s channels by stc network made by credit and debit cards, digital wallets, e-wallets and direct transfers including chip & pin, contactless technologies, e-wallets and QR codes.
The fintech firm added its app will allow other firms to more easily manage their inventory, track sales and improve invoicing.
The Riyadh-based channels by stc, which also has partnerships with Apple, Samsung and Huawei, serves over 10,000 merchants.
Geidea founder and chairman Abdullah Al-Othman said: “This partnership represents an exciting milestone in our efforts to support the Kingdom’s cashless payments targets, as part of Saudi Arabia’s 2030 Vision.”
The fintech firm added its app will allow other firms to more easily manage their inventory, track sales and improve invoicing.
The Riyadh-based channels by stc, which also has partnerships with Apple, Samsung and Huawei, serves over 10,000 merchants.
Geidea founder and chairman Abdullah Al-Othman said: “This partnership represents an exciting milestone in our efforts to support the Kingdom’s cashless payments targets, as part of Saudi Arabia’s 2030 Vision.”