Saudi Alinma Bank, a leading financial institution in digital payments, has partnered with FOODICS, a cloud-based technology and payments platform catering to restaurants in the MENA region.
The partnership, combining Alinma’s cutting edge Fintech offering and FOODICS’ pioneering tech ecosystem, is set to specifically benefit Small Business Owners (“SMBs”) and Micro-Businesses in KSA.
As per the press release, the partnership supports Saudi Arabia’s goal to raise the contribution of SMBs to the economy, and its launch of several accelerator programs.
Under this partnership, the two brands have come together to launch new products to enable small business owners to have full autonomy over their business decisions, allowing them to sell from anywhere at any time and accept payments on the go. This will allow them to maximise their sales and their productivity, while keeping track of their sales figures, inventory and customers.
Saleh Abdullah Alzumaie, Senior Vice President of Alinma Bank said: “At Alinma Bank, we have always been keen to support the small and medium-sized companies sector, which contributes mainly to the national economy. Today, we are pleased to cooperate with Foodics, a leading platform in the field of payments and technology to enable business owners to accelerate their growth at various levels, relying on our advanced technical capabilities, our network of branches around the Kingdom, and multiple digital banking channels that offer our distinguished and innovative services and products.”
Ahmad Al Zaini, FOODICS’ CEO and co-founder commented, “This strategic alliance will empower SMB and Micro-Business owners as well as the entire ecosystem. It will enable both FOODICS and Alinma Bank SMB customers to be more agile, by digitizing onboarding, giving them better rates as well as enabling daily settlements of customer payments twice a day, which will be a huge advantage to SMB owners, given that cash flow is so critical for their growth and sustainability.”
