Geidea, the biggest fintech company in Saudi Arabia, has teamed up with UAE-based LikeCard app, to reform point-of-sale (POS) transactions for consumers and merchants.
Geidea’s one-stop-shop integrated POS terminals will soon be rolled out across Saudi Arabia, the UAE and Egypt.
General Manager in the GCC at Geidea, Sailesh Malhotra, said: “We are delighted to partner with LikeCard as we use our technology to revolutionise the market of POS for merchants.
“While in the past merchants needed to have two or even three separate POS to execute these simple tasks, we have streamlined the entire payment journey with our innovative solution, making it as easy as possible for consumers to recharge their pre-paid online services.”
The collaboration with Geidea implies that merchants take ownership of the POS terminals, where customers can complete recharge payments via a smartphone application. The technology also enables international mobile recharge payments to be made from the card machine itself, as well as allowing for the payment of local bills.
General Manager in the GCC at Geidea, Sailesh Malhotra, said: “We are delighted to partner with LikeCard as we use our technology to revolutionise the market of POS for merchants.
“While in the past merchants needed to have two or even three separate POS to execute these simple tasks, we have streamlined the entire payment journey with our innovative solution, making it as easy as possible for consumers to recharge their pre-paid online services.”
Under the cooperation agreement, Geidea’s POS terminals will replace LikeCard non-payment POS currently in place across the three countries – this includes 8,000 in Saudi Arabia, 750 in the UAE and 1,000 in Egypt.
Founded in 2014, LikeCard is the first Arab app providing a range of pre-paid cards for the majority of all online services. This includes iTunes, Google Play, Steam, Mobily, Zain and Sawa and gaming vouchers for Playstation and Xbox.
LikeCard currently has more than 5 million users with 85,000 purchase orders on a daily basis.
Founder of LikeCard, Ammar Al Soos, said: “Our whole raison d’etre is to make life more seamless and straightforward for our customers.
“By partnering with Geidea we are taking this to a whole new level, simplifying the process further by using its cutting-edge safe and secure POS solution, and we will be able to reach more local and international merchants, with the aim of expanding our business scope, besides providing easier financial facilities.”
Founded in 2008 by Saudi entrepreneur Abdullah Faisal Al-Othman, the company strives to empower merchants with the tools to kickstart, maintain and foster their businesses.
Today, Geidea employs more than 2000 workers across all offices and serves more than 150,000 merchants.
