Geidea, Saudi Arabia’s largest fintech company by market share, has today announced a partnership agreement with MOXEY, a digital financial services platform that is democratizing access to digital payment channels for businesses, empowering them with modern financial tools that streamline daily operations, and encouraging growth while boosting financial inclusion for the underserved and unbanked, to standardize digital payments for merchants in the mobility and transportation industries.

Through this collaboration, the MOXEY merchant network will leverage Geidea’s innovative acceptance solutions, allowing MSMEs to accept any digital payment, including credit and debit cards, via Geidea’s POS, contactless technologies, and QR codes.

What the Stakeholders are Saying

Ahmed Nader, general manager at Geidea Egypt, commented on the partnership, saying, “We are delighted to partner with MOXEY to develop integrated digital payment solutions for land freight merchants and power MOXEY’s vision to increase financial inclusion.”

By allowing MSMEs to accept payments through formal digital channels, the partnership enables merchants to build better credit profiles and access new funding opportunities.

The partnership allows merchants to build better credit profiles and access new funding opportunities by making it possible for MSMEs to accept payments through formal digital channels.

Sherif Mohsen, Co-founder and Chief Operating Officer of MOXEY, stated, “By expanding access to digital payments across multiple platforms, we can serve the underserved and enable MSMEs to participate in the digital economy.” It is beneficial to economic development, job creation, and the achievement of many United Nations Sustainable Development Goals (UNSDGs). The availability of digital channels also opens up new opportunities to improve engagement between merchants and beneficiaries through the development of loyalty programs, offers, and discounts for MOXEY end users.”

While, Ahmed Magdy, Senior Commercial Director at Geidea Egypt on his part said “MOXEY’s comprehensive suite of digital solutions and now with our partnership will give MSMEs and underbanked entrepreneurs access to some of the best financial technologies. Hence, we are delighted that by digitizing the payments ecosystem and stepping towards a NEO bank for the mobility sector, Geidea and MOXEY are achieving some of the core financial inclusion objectives laid out by central banks across the region.