By tapping into Geidea’s network of merchants in Egypt, the partnership will allow valU to expand its customer and merchant bases
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, has announced that it has formed a partnership with Geidea, a Saudi-based digital payments provider, to integrate the company’s seamless and intuitive payment aggregation solutions into the valU ecosystem.
The partnership will drive the growth of the BNPL player’s retail merchants while also enabling Geidea to augment its current services and solutions with valU’s comprehensive financing services and tap new merchants in the BNPL player’s network.
Ahmed Hashem, valU’s Chief Commercial Officer, commented: “Our successful partnership with Geidea underscores valU’s commitment to creating long-term value for the people who rely on our tech-enabled financial services every day. The synergies between valU and Geidea were clear from the get-go, and our values and objectives are very much aligned. Together, we aim to support the people in our communities to grow their businesses and simplify their daily transactions, all while contributing to the inclusion of the unbanked and underserved segments of consumers and vendors alike. Through continued partnerships such as this, we look forward to playing an even greater role in the fintech space and having a deeper impact on people and businesses by delivering solutions that are intuitive, accessible, and affordable.”
Geidea, which has since its 2008 launch expanded into Egypt and the UAE, is a leading payment service provider offering digital banking technology, Point-of-Sale (POS) Terminals and business management solutions for both financial institutions and small businesses in retail and digital commerce. The landmark partnership with a leading, regional payment player like Geidea, falls directly in line with valU’s strategy to build a powerful and innovative fintech ecosystem of businesses that work seamlessly together to provide customers with end-to-end digital financial solutions at every point in their personal growth or stage of their business cycle.
Also commenting on the partnership Ahmed Nader, Country General Manager at Geidea, “We’re excited to enhance Geidea’s offering in Egypt through this successful partnership with valU. Both companies are aligned in terms of working to achieve financial inclusion by building innovative and impactful fintech solutions for consumers and businesses alike. Leveraging valU’s strong brand name and comprehensive offering in the BNPL space, the partnership will bolster our offering by providing a variety of payment solutions to merchants. This will further drive the growth of small businesses in our network by giving their customers access to products and services they need quickly and seamlessly through a user-friendly platform.”
Ahmed Magdy, Geidea’s Commercial Director, added: “We are very proud to partner with valU on our journey to expand our service offering and footprint. With the Egyptian retail market being one of the biggest in the region, this partnership is a cornerstone in our growth story and central to our strategy to provide clients with innovative, but trusted solutions for all their electronic transaction needs. As an impact-driven organization, Geidea’s ultimate goal is to provide a rich experience for users, merchants, and institutions in our network while at the same time align our mission to that of the Egyptian government’s transition to a cashless, inclusive society.”
