Wallets/geidea
Geidea
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Overview
Geidea is Saudi Arabia's #1 payment-acceptance provider with 75% market share in Saudi payment-acceptance space [1, 2, sa-cro]. Geidea operates:
- 700,000+ payment terminals across Saudi Arabia
- 150,000+ merchants in SA + beyond (UAE + Egypt)
- 5+ million transactions daily (~150M monthly)
2018 Gulf Capital acquisition [3]: SAR 1 billion (~$268 million) acquisition by Gulf Capital — provided financial impetus for Geidea's regional expansion.
2025 milestone [4]: Geidea selected as official POS + payments partner of Abu Dhabi Grand Prix — distinctive UAE expansion + global F1-brand association.
April 2026 Planet partnership [2]: Currency-conversion services for SA tourists integrated into Geidea POS terminals — distinctive SA-tourist-handling expansion.
History
2008 — Geidea founded in Saudi Arabia by Abdullah Al Othman — Saudi payment-acceptance pioneer.
2008-2017 — Saudi POS dominance build-up [1].
2018 — Gulf Capital acquisition for SAR 1B (~$268M) [3]: Regional-expansion capital injection.
2020-2024 — Regional expansion [1]: UAE + Egypt offices.
2025 — Abu Dhabi Grand Prix POS partner + 5M daily tx milestone [4].
April 2026 — Planet partnership for currency conversion [2].
Ownership & operator
Operating entity: Geidea (Saudi-founded; Gulf Capital-acquired since 2018).
Founder: Abdullah Al Othman.
Major shareholder: Gulf Capital (acquired Geidea for SAR 1B in 2018).
Regulator: SAMA (Saudi Central Bank) — Payment Service Provider (PSP) license.
Technical integration
| Layer | Description |
|---|---|
| Channels | Geidea POS terminals (700K+) + SoftPOS (mobile-as-POS) + payment gateway + API |
| Identifiers | Card + Mada (SA national debit) |
| SA rail | mada (Saudi national debit + POS-mandatory) |
| Sub-products | Point-of-sale terminals + SoftPOS + payment gateway + e-commerce checkout + merchant services + Planet currency conversion (Apr 2026+) |
| Countries | SA primary + AE + EG |
| License | SAMA Payment Service Provider |
Users & growth
- Saudi payment-acceptance market share: 75% (Geidea is SA #1 by far)
- Payment terminals: 700,000+ in SA + beyond
- Merchants served: 150,000+
- Daily transactions: 5+ million (~150M monthly)
- Strategic 2025 milestone: Abu Dhabi Grand Prix POS partner
Use cases
SA + UAE + EG merchant payment-acceptance via 700K+ Geidea POS terminals; Mada card payments (SA-mandatory); e-commerce checkout via Geidea payment gateway; SoftPOS (mobile-as-terminal); Abu Dhabi Grand Prix 2025+ POS partner (F1 hospitality); Planet currency-conversion services for SA tourists (Apr 2026+).
Implementations & partners
Operator: Geidea (Gulf Capital-acquired since 2018; founder Abdullah Al Othman).
Major shareholder: Gulf Capital (SAR 1B / $268M acquisition 2018).
Strategic partners (2025-2026):
- Abu Dhabi Grand Prix (POS partner 2025+)
- Planet (currency-conversion services Apr 2026+)
- First Abu Dhabi Bank + Magnati (KSA strategic alliance to strengthen digital foothold)
Major Saudi payment-processor competitors:
- [[paytabs]] (SA payment-orchestration; SAR 325B tx; AI-powered)
- [[hala]] (Saudi SME comprehensive infrastructure)
- HyperPay (Saudi-headquartered MENA payment gateway)
- Tap Payments (Kuwait-headquartered MENA gateway)
- Telr (UAE-Singapore payment gateway)
Regulator: SAMA.
Fun facts
- Saudi Arabia's #1 payment-acceptance provider — 75% market share.
- 700,000+ payment terminals + 150,000+ merchants + 5M+ daily tx.
- 2018 Gulf Capital acquisition for SAR 1B (~$268M) — major SA-fintech-PE deal.
- 2025 Abu Dhabi Grand Prix POS partner — distinctive F1 global brand association.
- April 2026 Planet currency-conversion partnership — SA-tourist expansion.
- FAB + Magnati KSA strategic alliance — Saudi cross-border-payment ecosystem alignment.
- Founder Abdullah Al Othman — SA payment-acceptance pioneer (2008).
Comparison
| Feature | Geidea | [[paytabs]] (SA payment-orchestration rival) | [[hala]] (Saudi SME analogous) | [[foodics]] (SA F&B SaaS + payments) | Network International (UAE rival) |
|---|---|---|---|---|---|
| Operator | Geidea (Gulf Capital-acquired 2018; founder Abdullah Al Othman) | PayTabs (Abdulaziz Al Jouf 2014) | Hala (TPG + Sanabil $157M Sep 2025) | Foodics (Ahmad AlZaini CEO; Prosus + Sanabil) | Network International (Brookfield-acquired Sep 2024 $2.76B) |
| Type | SA #1 payment-acceptance + POS + SoftPOS + e-commerce gateway | SA payment-orchestration + AI-powered + Paymes super-app | Saudi SME comprehensive financial infrastructure | GCC restaurant SaaS + POS + payments | UAE payment processor + Magnati merger 2025 |
| Country | SA + AE + EG | SA + MENA | SA + UAE | SA + AE + EG + 5 more GCC | UAE + 50+ markets |
| Market share | 75% SA payment-acceptance (SA #1 by far) | Card volume biggest SA online | SME-focused | 33,500+ GCC restaurant branches | $400B+ combined TPV (post-Magnati merger) |
| 2025 distinctive | Abu Dhabi Grand Prix POS partner; Apr 2026 Planet currency conversion; FAB+Magnati KSA alliance | SAR 325B tx; AI-powered platform; first Arab top-100 global fintech (Oct 2024) | Sep 2025 $157M (TPG + Sanabil) | $6B H1 2025 GMV (+27%); $170M 2022 Series C (largest MENA SaaS) | Brookfield-Magnati merger 2025; 250+ FIs / 240K+ merchants / 20M+ cardholders |
Status
Active, Saudi Arabia's #1 payment-acceptance provider [1, 4]:
- Geidea (Gulf Capital-acquired since 2018; founder Abdullah Al Othman) since 2008.
- 75% SA payment-acceptance market share + 700K+ POS terminals + 150K+ merchants + 5M+ daily tx.
- 2025 Abu Dhabi Grand Prix POS partner + Apr 2026 Planet currency conversion.
- Gulf Capital majority owner (SAR 1B 2018 acquisition).
- SAMA Payment Service Provider licensed.
Sources
- 1 Geidea — official
- 2 Planet + Geidea Apr 2026 — Planet
- 3 Geidea SA cashless revolution — Entrepreneur
- 4 Geidea SA cashless Vision 2030 — Lucidity Insights
- sa-cro In-corpus:
reports/countries/SA-saudi-arabia.md
Source
Biography extracted from geidea.md. See matrix.md for standards-support matrix if present.