Saudi telecom giant's arm strikes partnership with fintech to ease digital payments for Saudi SMEs

Saudi fintech Geidea has signed a partnership with the Saudi telecom giant's sales and distribution arm, channels by stc, to simplify digital payments for small firms in the Kingdom, according to a statement.
Geidea said its service will improve digital payments on the telecom firm’s channels by stc network made by credit and debit cards, digital wallets, e-wallets and direct transfers including chip & pin, contactless technologies, e-wallets and QR codes.

The fintech firm added its app will allow other firms to more easily manage their inventory, track sales and improve invoicing.

The Riyadh-based channels by stc, which also has partnerships with Apple, Samsung and Huawei, serves over 10,000 merchants.

Geidea founder and chairman Abdullah Al-Othman said: “This partnership represents an exciting milestone in our efforts to support the Kingdom’s cashless payments targets, as part of Saudi Arabia’s 2030 Vision.”