By Leandra Monteiro
- Domestic Payments
Geidea, a FinTech company in the region, has partnered with UAE-based LikeCard, to revolutionise 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 prepaid 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.
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 Al Soos, Founder 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.”