Geidea, a leading Fintech company in Saudi Arabia, has partnered with the Saudi-based delivery-as-a-service startup BARQ in a move that facilitates point of delivery, digital payments for BARQ customers through the Geidea-enabled BARQ App.
The collaboration equips BARQ – which enables bullet delivery for any business – with a tailored suite of payment solutions powered by Geidea, enabling its delivery fleet to receive payments from customers upon delivery via the BARQ mobile application.
Since its founding in 2020, BARQ has provided speedy delivery services for B2C and B2B businesses of all sizes and across multiple e-commerce sectors in as little as two hours.
Geidea’s tailored payment solutions will enable BARQ’s merchants to accept a wider variety of digital payments via a safe, secure, single API integrated platform. The move allows fleet drivers to accept payments at the point of delivery.
Abdullah Mansour Alshowaier, Chief Business Officer at Geidea said: “With BARQ’s large network and our fintech experience, we can synergize our capabilities and further boost growth in digital payments across the country. Our partnership with BARQ is aligned with our vision to make payments and commerce technology more accessible, safe and seamless for all. Crucially, it is a partnership that will contribute to the enrichment of the Saudi SME ecosystem and widen access to the digital economy for businesses and entrepreneurs right across the Kingdom.”
Mohammad AlMarwani, Chief Business Development Officer, at BARQ, said: We are excited to sign this strategic partnership with Geidea which will enable us to better handle payments for our merchants and provide a convienent, secure and user-friendly experience for our customers. This will up the bar for the industry standard to ease the cash collection process and minimize usage of cash in alignment with the government strategy.
As a contributor to the Saudi Vision 2030’s objective to support startups and SMEs and increase digital transactions in the country, Geidea, through its innovative technologies, is providing a complete suite of payment, e-commerce and business management tools to help local businesses grow and scale.
Geidea operates more than 700,000 payment terminals (POS) across the region and with 150,000 trusted merchants, including regional and international brands, SMEs and e-commerce players
Geidea is a leading and fully licensed payment service provider offering digital banking technology, Point-of-Sale (POS) Terminals and business management solutions for financial institutions and small businesses in retail and digital commerce. Founded locally in Saudi Arabia in 2008 by entrepreneur Abdullah Faisal Al-Othman, Geidea’s mission is to empower merchants of all types and sizes with the tools to start, manage and grow their businesses. The company believes that the latest payments and commerce technology should be accessible, affordable, and intuitive for everyone. Based in Riyadh, Geidea has more than one thousand employees 150,000 merchants and supports more than 700,000 payment terminals and ATM networks within the Kingdom, capturing 75% market share in the sector. The company is rapidly expanding branches in several locations across the GCC, including UAE and Egypt, with an eye to further locations in 2022.