Geidea’s Key Milestones

In 2008, Abdullah Al-Othman identified a significant gap in the Saudi market: merchants, particularly SMEs, lacked access to affordable and intuitive payment solutions. Recognizing the impending digital revolution, Al-Othman established Geidea to democratize payment technologies, aiming to empower SMEs and foster financial inclusion. The company’s name, derived from the Arabic word for “idea,” reflects its commitment to innovative problem-solving.

Geidea’s mission has been to serve as an enabler for the business environment, reducing the time and costs associated with setting up businesses for small merchants. By leveraging emerging digital technologies, Geidea sought to enhance customer experiences and integrate SMEs into the high-tech ecosystem. Geidea’s early focus was on developing and deploying point-of-sale (POS) systems tailored to the needs of the local market. The company’s first product launched in 2011, but it wasn’t until 2013 when they launched their first certified POS terminal. Within two years, Geidea had captured 50% of Saudi Arabia’s POS market share, becoming a leading provider of payment solutions in the Kingdom.