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Geidea, Alamthal Financing bring POS loan repayment for Saudi SMEs

Geidea, Alamthal Financing bring POS loan repayment for Saudi SMEs
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Riyadh – Mubasher: Saudi fintech firm Geidea has joined forces with Alamthal Financing to provide loan financing and repayment services for Saudi small and medium-sized enterprises (SMEs).

The partnership will bring a new solution enabling auto repayments of loans through point-of-sale (POS) terminals, according to a press release on Tuesday.

Merchants will be able to repay their loan instalments directly through POS terminals through an automated method to either set aside a percentage or part of monthly revenue.

Group CEO of Geidea, Renier Lemmens, said: “With this partnership, we want to remove the hassle and stress that often goes into repayments and offer a secure, trusted solution that will empower them and let them focus on their business.”

Meanwhile Deputy CEO and Chief Business Officer of Alamthal, Hamad Saleh Al Salem, said: “Our goal is to promote good financial behaviours and safeguard the financial wellbeing of the SME sector, thus giving them the platform to expand and scale in line with their business goals.”