Geidea Technology to Revolutionize POS Transactions for LikeCard

Geidea, a leading fintech company in the region, has partnered with UAE-based LikeCard, to revolutionize point of sale (POS) transactions for consumers and merchants. Geidea’s one-stop-shop integrated POS terminals will be introduced across Saudi Arabia, the UAE and Egypt.

Founded in 2014, LikeCard is the first Arab app providing a wide range of pre-paid cards from almost all online services. This includes iTunes, Google Play, Steam, Mobily, Zain and Sawa, as well as gaming vouchers for Playstation and Xbox, and Facebook and Skype cards.

The collaboration with Geidea will see merchants take ownership of the POS terminals, where recharge payments can be completed by consumers through a simple smartphone application. The technology also allows for international mobile recharge payments to be made from the card machine itself, as well as allowing for the payment of local bills.

Sailesh Malhotra, General Manager, GCC at Geidea, said: “We are delighted to partner with LikeCard as we use our technology to revolutionize 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 operation across the three countries – this includes 8,000 in Saudi Arabia, 750 in the UAE, and 1,000 in Egypt.

Ammar Alsoos, CEO of LikeCard, 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.”

Janelle Cardozo, Geidea, Head of Sales at Geode, said: “As part of Geidea’s continued investment in highly innovative solutions in the region, our best-in-class payment technology will provide LikeCard users in Saudi Arabia, UAE and Egypt with comprehensive and seamless payment options that will help them access their desired online services with the highest convenience.”

LikeCard currently has more than 5 million users with 85,000 purchase orders on a daily basis.

About Geidea

Geidea is a leading fintech and payment solutions provider founded in Saudi Arabia and expanding rapidly across the region with operations in UAE and Egypt, and targeting 7 more countries in the next 2 years, serving both financial institutions and small and medium businesses. Founded in 2008 by Saudi entrepreneur Abdullah Faisal Al-Othman, the company believes that the latest payments and commerce technology should be accessible, affordable, and intuitive for everyone. The company continues to focus on its mission empowering merchants with the tools to start, manage and grow their business which is at the heart of what Geidea does. Geidea has become the first non-bank entity in the Kingdom to obtain an acquiring license from the Saudi Central Bank “SAMA” to provide financial services directly to merchants, small and medium enterprises. Geidea now has more than 2000 employees across all offices, with over 150,000 merchants, and provides support to more than 700,000 terminals within the Kingdom with 75% market share. The company is proud to say that it is the biggest fintech company in Saudi and is ranked one of the top 25 fintech companies in the Middle East by Forbes.

For detailed information, please visit: http://www.geidea.net/

For further information, please contact: geidea@webershandwick.com

About LikeCard:

With over 70+ leading local and international retailers. 3,000+ cards to choose from and a swiftly growing base of 5+ million users, LikeCard is the #1 Prepaid Card eCommerce Platform in the MENA Region. LikeCard flaunts a proud portfolio of strategic partnerships and collaborations with industry-leading brands ranging from telecommunications, entertainment, gaming, electronics services, and retail brands! LikeCard has steadily grown to become an integral part of the digital ecosystem, recording a staggering 8m+ app downloads in App Store, google play, and Huawei Gallery, an unprecedented 30 million+ orders and 85,000 purchase orders daily, and consistently strives to deliver smarter practices, conveniently.