Mastercard has partnered with Saudi Arabia-based Geidea in order to offer consumers and businesses greater access to advanced card payment solutions.
Through Mastercard, Geidea will extend its range of services and products, operating as an issuer. This new partnership builds on previous collaborations between Geidea and Mastercard.
As part of the agreement, Geidea will leverage Mastercard’s leading-edge technology to issue BIN ranges and enable consumers, merchants, and fintechs across the Kingdom to benefit from innovative payment solutions.
“As a company fully committed to making payments and commerce technology accessible, affordable, and intuitive for everyone, we are delighted to have joined forces with Mastercard to empower Saudi merchants, fintechs, and the Kingdom’s startup community. In line with our work to support merchants of all types and sizes with the tools to start, manage and grow their businesses, our advanced card solutions will prime more local enterprises for success, enabling them to experience the full benefits of innovative payment solutions.”
The partnership will contribute to the advancement of Geidea and Mastercard’s digital enablement ecosystems through the creation of a diverse selection of BIN Sponsorship offerings.
Underlining both entities’ commitment to transforming the Kingdom into a hub of innovation, the agreement will also lead to greater fintech enablement across the country and wider region, bolstering the Saudi and MENA digital economies.
Mr. Adam Jones, Country General Manager of MENA Central at Mastercard, said that, “At Mastercard, we leverage technologies to modernize and deliver innovative solutions that unlock the true potential of inclusive growth and bring more people into the digital economy.”
“Our multi-rail expertise and expanding suite of programs and services are designed to enable the fintech ecosystem to build, launch and grow. Together with Geidea, we will empower consumers, merchants, and fintechs to take full advantage of state-of-the-art payment solutions,” Mr. Jonas added.
