Geidea: Driving Saudi Arabia’s Cashless Revolution in Support of Vision 2030

Though there were several Fintech players active in the Saudi Market prior to 2016, activities were largely unregulated and unsupported by a wider economic infrastructure. Upon the unveiling of the Saudi Vision 2030, several organizations and initiatives were birthed specifically to support the cultivation of the Fintech industry, including the launch of SAMA’s Regulatory Sandbox and CMA’s Fintech Lab, the establishment of Fintech Saudi, a government-backed organization directly mandated to monitor and actively support the development of the Fintech sector.

The Fintech ecosystem has grown rapidly. A cornerstone of this transformation is the country’s shift toward a cashless society, with noncash transactions taking center stage in