- Leading fintech company, Geidea launches its fully-integrated, cloud-based POS system, at GITEX Global 2022
- Geidea taps into UAE’s thriving F&B sector which is home to more than 25,000 restaurants and cafes
Dubai, United Arab Emirates, 11 October 2022: Geidea, a leading fintech company in Saudi Arabia, has announced the launch of its flagship integrated point-of-sales solution, with the aim to revolutionize payment and business processes for F&B operations across the UAE.Geidea will cater to UAE’s thriving F&B sector – with more restaurants and café’s than any city in the MENA region – which has an estimated growth forecast of 6.8% CAGR predicted during the period of 2022-2027, according to Mordor Intelligence.The new generation, fully-integrated, cloud-based POS system offers F&B businesses the best-in-market point-of-sales solution and can respond to dynamic market conditions and ever-evolving customer needs.Available for full dining, cafes, quick service, food trucks and cloud kitchens, the affordable, integrated POS solution helps run all aspects of the business, including restaurant operations, payment integrations, customer understanding and staff management. The fully integrated system is compatible with all Geidea’s payments solutions. Sailesh Malhotra, General Manager, GCC at Geidea, said: “UAE is home to more than 25,000 restaurants and cafes, and is also the second largest F&B market for online food delivery in the MENA region with an annual market size of $834 million*. As part of Geidea’s continued investment in the UAE, our best-in-class payment technology will provide F&Bs a comprehensive all-in-one solution that addresses payment, commerce and business requirements – all the way from loyalty programs to online ordering. The new solution replaces legacy point of sale and antiquated cash register platforms, which have become obsolete, from their lack of payment methods to their inability to analyze customer behavior and trends. With our new product, we are not only revolutionizing payments in this space but also supporting the growth of the F&B sector which is a key pillar of the country’s economic growth strategy.”Laurent Dhaeyer, Chief Strategy & Growth Officer at Geidea said: “The market is evolving and traditional legacy systems haven’t managed to keep up. We are delighted to introduce a full suite of business applications to improve the way our merchants – even the smaller ones amongst them-run and grow their businesses. We envision it as a real catalyst to unlock SME business success in the MENA region.”The UAE launch is expected to be followed up by further roll-outs to other markets including Saudi Arabia and Egypt.-ENDS-About GeideaGeidea is a leading and fully licensed 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. 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 business. 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 2000 employees, 150,000 merchants, and provides support to more than 700,000 payment terminals and ATMs networks within the Kingdom and 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
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