UAE-based e-payment services firm Geidea announced a new cooperation with Cairo-based Fatoura to provide retail and wholesale traders in Egypt with electronic payment acceptance services through the Geidea platform.
Merchants can now manage their stocks of goods through the B2B e-commerce marketplace Fatoura app and can also accept electronic payments and bill payments.
Ahmed Nader, General Manager of Geidea in Egypt, said that the partnership aims to provide merchants with the capabilities provided by the Geidea platform for electronic payment services, whether through the Geidea application on electronic points of sale, or integrated into the mobile phone application.
Ahmed Magdy, head of the commercial sector for Geidea in Egypt, added that the partnership will launch the latest electronic payment services in Egypt in accordance with Geidea’s strategy for investment and growth in Egypt, but also because it is in line with the Egyptian government’s strategy for information and communication technology 2030, which aims to transform Egypt into a digital society.
Hossam Ali, the Co-Founder of Fatoura, said that the partnership is an opportunity for small retailers in Egypt, especially in light of the increasing number of digitally mature suppliers who are ready to cooperate and work through the digital payments system.
With the acceleration of the growth of the digital economy in Egypt, collaboration between innovative companies, such as Fawry and Geidea, has become essential to enable SMEs and small traders to access merchandise and carry out payments smoothly and securely, he added.
Fatoura was established in 2020 by Hossam Ali, Ahmed Anwar and Abdullah Moheb El-Din, to connect wholesalers and suppliers of goods and fast-consumable goods with retail stores, allowing stores to access thousands of goods and products provided by suppliers easily and conveniently.
