Geidea and Mastercard join forces to transform digital payments for SMEs in the UAE 

Geidea, a leading licensed fintech company in the UAE, has entered a strategic partnership with Mastercard, a global technology company in the payments industry. The collaboration is designed to accelerate digital payment adoption among small and medium-sized enterprises (SMEs) in the UAE by enabling them to accept payments via Mastercard Gateway. This integration will simplify payment processes for online merchants, allowing them to offer their customers a faster, more secure, and seamless transaction experience.

Marking the beginning of a partnership that is set to positively shape the payments landscape in the country, the signing ceremony took place on December 9th, 2024, at Abu Dhabi Global Market (ADGM) as part of Abu Dhabi Finance Week.

Geidea, a key player in the UAE’s fintech ecosystem, will leverage the cutting-edge Mastercard Gateway technology to offer comprehensive and secure payment solutions. This partnership is especially beneficial to SMEs, enabling them to easily accept payments from customers across the region, driving business growth in an increasingly digital-first economy. Mastercard Gateway offers advanced payment processing and fraud prevention technology to acquiring banks, merchants, micro-merchants, and technology partners. It provides its partners with the reach, security and innovation to compete in the world of digital payments.

"We are thrilled to partner with Mastercard to deliver cutting-edge payment solutions to SMEs across the UAE. By integrating Mastercard Gateway, we are not only providing an easy-to-use solution but also empowering local merchants to keep pace with the evolving payment landscape. Our collaboration will foster growth in the region by enhancing the checkout experience and introducing new payment options that meet the demands of today’s digital-savvy consumers,” says Sailesh Malhotra, General Manager, GCC at Geidea.

The integration of Mastercard’s technology with Geidea’s platform will also introduce advanced features, such as Card on File, recurring payments, and enhanced fraud prevention capabilities. These innovations will ensure that businesses can offer versatile payment options and provide a frictionless, unified checkout experience for their customers.

“With the increasing use of digital wallets and contactless payments, it’s essential to provide businesses with the tools they need to meet evolving customer expectations. Our goal at Mastercard is to help merchants thrive in a fast-changing digital economy. This partnership with Geidea is an exciting milestone for us as we continue to expand our reach and support the growth of SMEs in the UAE and beyond. Through Mastercard Gateway, we are enabling companies to access world-class payment solutions that offer security, speed, and flexibility,” says Gina Petersen-Skyrme, Country Manager, UAE & Oman at Mastercard.

As part of this collaboration, Geidea and Mastercard will also focus on addressing the growing demand for recurring payments and alternative payment methods, such as digital wallets. By supporting recurring billing options, the partnership allows companies across a wide array of industries, including e-commerce, retail, travel and tourism, and telecommunications, to provide their customers with more flexible payment methods. In addition, this enhanced payment infrastructure will offer merchants more than just the ability to accept payments; it will also equip them with the tools to build stronger, more lasting relationships with their customers.

The partnership will expand Geidea’s footprint as a payment acquirer and allow for streamlined integration across a global client base. With Mastercard’s global reach and Geidea’s strong position in the UAE’s fintech ecosystem, both companies are positioned to create lasting value for businesses in the region and help accelerate the journey towards a cashless future.

By offering a secure, centralized payment platform that integrates seamlessly with Mastercard Gateway, this collaboration is set to benefit thousands of SMEs in the UAE, empowering them to scale, grow, and innovate in today’s fast-paced digital environment.