Geidea and MoXey partner to offer inclusive digital payment solutions

By Edlyn Cardoza

Geidea, the largest FinTech company in Saudi Arabia by market share, has partnered with the digital financial services platform MoXey to standardise digital payments for merchants in the mobility and freight sector.

Ahmed Nader, general manager at Geidea Egypt, said: “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.”

The partnership enables MoXey merchants’ network with a suite of payment solutions with Geidea’s innovative acceptance solutions, making it possible for MSMEs to accept any digital payment, including credit and debit cards, through Geidea’s POS, contactless technologies, and QR codes.

Sherif Mohsen, Co-founder & Chief Operating Officer, MOXEY, said: “By widening access to digital payments across multiple platforms, we can serve the underserved and enable MSMEs to participate in the digital economy. It’s both good for economic development, job creation, and the realisation of many United Nations Sustainable Development Goals (UNSDGs). The provision of digital channels also creates new opportunities to enhance engagement between merchants and beneficiaries through the creation of loyalty schemes, offers, and discounts for MOXEY end users.”

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.

Ahmed Magdy, Senior Commercial Director at Geidea Egypt, continued: “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. We are delighted that by digitising 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.”

Ayman Dababneh, Regional Head of Business Launch, stated: “We are thrilled to announce this partnership with a world-class regional service provider to empower our merchant network with vital digital tools they need to manage their business through a service-focused approach to enabling success, enhancing impact, and encouraging MSMEs growth.”