The payments company Geidea is one of Saudi Arabia’s largest fintechs. Founded in 2008, and receiving an initial merchant service provider (MSP) licence in 2016, the company — which is co-owned by UAE-based Gulf Capital and Saudi investment house Al Othman Holding, and specialises in payment solutions for small and medium-sized enterprises provides more than 600,000 point-of-sale terminals to more than 150,000 merchants.
After receiving an initial MSP licence in 2016, it became the first non-bank financial institution to be licensed as a payment services company by the Saudi Central Bank in January 2020, and became the first non-bank to be awarded an acquiring licence in April 2021.
