Geidea supports the Dubai FinTech Summit, calls for harmonized regulations in the GCC

by James · May 5, 2023

Dubai, United Arab Emirates–(Newsfile Corp. – May 5, 2023) – One of the Middle East’s largest FinTech companies, Geidea, has become the latest sponsor of the Dubai FinTech Summit, a platform it will use to demand harmonized regulatory framework in the GCC to further increase investor confidence, promote innovation and drive growth in the industry.

Figure 1: Geidea supports the Dubai FinTech Summit

Found on 8 and 9 May under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Prime Minister of Dubai; Deputy Prime Minister and Minister of Finance of the UAE; and President of the Dubai International Financial Centre, the summit will bring together 5,000 global FinTech and technology experts to discuss innovations and challenges in the sector, as well as connect start-ups, investors and industry leaders.

Geidea, which has a 75 percent market share of the FinTech payment services sector in Saudi, offers more than 700,000 terminals in the region. During the summit, the company will showcase products, including a newly launched point of sale (PoS).

Figure 2: Mohammad Alblooshi, head of the DIFC Innovation Hub and FinTech Hive.

“We are delighted to have the support of one of the Middle East’s leading financial services providers,” said Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive.

“The Dubai FinTech Summit will be a truly global platform, bringing together the world’s FinTech community to help shape the future of this fast-growing sector. As well as giving our partners and attendees an opportunity to showcase their latest innovations, the summit will provide an opportunity for thought leaders to debate, exchange ideas and make important connections, including with investors. We look forward to welcoming the global FinTech industry to Dubai, which is confirming its position as a global FinTech hub.”

Sailesh Malhotra. General Manager (GCC), Geidea, said: “We are delighted to announce our participation in the Dubai FinTech Summit. This premier event provides us with a unique opportunity to connect with like-minded industry leaders, exchange innovative ideas and collaborate to establish a more robust fintech community in the region We are eager to leverage this platform to expand our knowledge, share insights with our peers and elevate our impact on the FinTech industry in the Middle East and beyond.

“The FinTech industry has transformed the traditional financial industry, creating new opportunities for innovation and efficiency. The local regulators have played a phenomenal role in this transition and continue to create a positive impact in the industry. As a next phase in this development would like to see CB and other regulators increase their involvement and communication with the Fintech players in the industry.

Organized by the DIFC, the leading international financial hub in the (MEASA) region, the summit will shine a spotlight on all things affecting the future of finance – from Web 3.0, metaverse and blockchain to decentralized finance, regulation and policy-making, and the greater need for increased financial inclusion . Visitors will also be able to meet more than 100 FinTech exhibitors and join a range of panels and fireside chats. Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai.

The event will host renowned local voices such as HE Abdullah Bin Touq Al Marri, UAE Minister of Economy and HE Essa Kazim, Governor of DIFC. The impressive list of speakers at the summit includes Bill Winters, CEO of Standard Chartered PLC; Brad Garlinghouse, CEO of Ripple; Melissa Guzy, co-founder and managing partner of Arbor Ventures; and Michael Shaulov, CEO of Fireblocks; among others.

Visitors can now buy tickets to the Dubai FinTech Summit.

About Dubai International Financial Center

The Dubai International Financial Center (DIFC) is one of the world’s most advanced financial centers and the leading financial hub for the Middle East, Africa and South Asia (MEASA), comprising 72 countries with an approximate population of 3 billion and an estimated GDP of 8 trillion dollars.

With a nearly 20-year track record of facilitating trade and investment flows across the MEASA region, the center connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

The DIFC is home to an internationally recognized, independent regulator and a proven legal system with an English common law framework, as well as the region’s largest financial ecosystem with over 36,000 professionals working across over 4,300 active registered companies – making up the largest and most diverse pool of industrial talent in the region.

The centre’s vision is to drive the finance of the future through ground-breaking technology, innovation and partnership. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, tailored regulation, innovative accelerator programs and growth start-up funding. -oops.

Comprised of a range of world-renowned retail and dining venues, a dynamic arts and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

For more information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.

About Geidea

Geidea is a leading fintech payment services provider offering digital banking technology, smart payment terminals and business management solutions for SMEs in retail and digital commerce, currently serving over 150,000+ merchants worldwide. Founded in 2008 by Saudi entrepreneur Abdullah Faisal Al-Othman in Saudi Arabia, the company is rapidly expanding across the region with operations in the UAE and Egypt, serving both financial institutions and SMEs.

Geidea believes that the latest payment and trading technology should be available, affordable and intuitive for everyone. The company continues to focus on its mission of giving sellers the tools to start, manage and grow their business, which is at the heart of what Geidea does. Geidea has become the first non-banking entity in the Kingdom to obtain a procurement license from the Saudi Central Bank “SAMA” to offer financial services directly to merchants and small and medium-sized enterprises.

Geidea now has more than 2,000 employees across all offices, with over 150,000 sellers, and supplies more than 700,000 terminals in the Kingdom with a market share of 75 percent. The company is proud to say that it is the largest fintech company in Saudi and is ranked as one of the top 25 fintech companies in the Middle East by Forbes.

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