Wadz Pay Partner with a payment service provider gaydea Facilitating digital payments during Islamic pilgrimage.
The partnership will integrate WadzPay’s e-money wallet with Geidea’s Point of Sale (POS) terminals deployed at merchants in the Kingdom of Saudi Arabia (KSA).
The move is an effort to support digital payments, especially during the Islamic holidays of Hajj and Umrah. A spiritual pilgrimage has brought his one million pilgrims to the holy city of Mecca this year. A typical spending capacity is $20 billion (2018).
Umrah can be performed at any time of the year, but Hajj takes place between June 26th and July 1st.
The Kingdom of Saudi Arabia aims to host 30 million pilgrims in the city by 2030.
The combination of WadzPay and Geidea’s solutions will enable these pilgrims to better manage their expenses with payments that are certified with e-money wallets and supported by blockchain security.
“With Geidea’s merchant and POS network, WadzPay … enables merchants to benefit from faster, safer and seamless payments,” commented. Anish JainismFounder and Group CEO of WadzPay.
“Integrating e-wallets into the POS systems of over one million merchants will make transactions faster and safer for millions of pilgrims who visit Hajj and Umrah every year.” Rainier LemmensCEO of Geidea
A new partnership with blockchain payment service provider Geidea April 2022 Partnership on the blockchain network Algorand.
The network promises WadzPay payment processing speeds while looking to develop white-label blockchain solutions.
Having developed a strategy with Geidea now, the company is actively preparing the suitability and reach of its services in time for the holy pilgrimage.
We are pleased to announce that Geidea and WadzPay, Saudi Arabia’s leading fintech companies, have formed a new strategic partnership to facilitate the transformation of pilgrim payments. pic.twitter.com/5wkTderhSZ
—WadzPay (@WadzPay) November 14, 2022
Sairesh MalhotraGM, and Geidea’s GCC describe the partnership as providing merchants and consumers with a “best-in-class experience every time they make a payment.”
He cites “providing a fast transaction process for merchants” and “a seamless payment experience for pilgrims” as key drivers of the partnership.