Geidea & Fils: Pioneering Sustainable Digital Payments
In a groundbreaking move towards a greener future, Geidea, a prominent FinTech company in the UAE, and Fils, a revolutionary force in climate-conscious innovation, have joined forces. This strategic partnership between two industry giants will reshape the digital payments landscape while promoting environmental consciousness and carbon neutrality. Recognised as one of Forbes Middle East’s top 25 Fintech companies, Geidea has made sustainability a central pillar of its mission. Fresh from its role as the official payment and POS provider for the United Nations Climate Change Conference (COP 28), Geidea continues to lead the way in sustainable finance. Fils, on the other hand, is committed to transforming various industries, including banking, travel, eCommerce, and fintech, towards a greener and more sustainable future.
Embedding Sustainability into Digital Transactions
One of the key highlights of this strategic partnership is the integration of sustainability into every facet of Geidea and Fils’ activities. Merchants will now have the power to empower their customers by providing carbon emissions estimates for specific transactions through Geidea’s payment gateways. This means that whether you’re booking a flight, taking a ride-sharing service, purchasing products, or arranging shipping, you can gain valuable insights into the environmental impact of your actions. This not only fosters a culture of sustainability but also enables informed decision-making.
Taking it a step further, the collaboration with Fils allows customers to effortlessly contribute to trusted carbon credit projects directly from any product interface. This streamlined process empowers users to actively support a greener future and reduce their carbon footprint with every transaction. In a world where environmental stewardship is paramount, Geidea and Fils are setting new standards in sustainable finance, proving that progress and environmental responsibility can go hand in hand.
Visionary Leaders Driving Sustainability
Sailesh Malhotra, General Manager – GCC at Geidea, expressed his enthusiasm about this transformative partnership. He stated, “At Geidea, we are thrilled to continue leveraging our technology to contribute to impactful and tangible solutions. This partnership with Fils aligns with our mission to go beyond conventional payment services, introducing a new era where sustainability is integrated into the fabric of digital transactions.”
Nameer Khan, Fils’s visionary Founder and CEO, echoed this sentiment, emphasising that their collaboration with Geidea represents a significant step in Fils’ journey towards leading sustainable innovation in the global fintech landscape. Starting in the UAE and expanding regionally, this partnership underscores their commitment to Environmental, Social, and Governance (ESG) values across critical regions. Khan highlighted that working with Geidea is not just about fulfilling their environmental mission; it’s a testament to Fils’ visionary technology and dedication to making every transaction a positive force for our planet.
Geidea’s Commitment to Sustainable Development
Besides this remarkable partnership with Fils, Geidea has been making waves in the fintech industry. As a fintech payment service provider, Geidea’s digital banking technology, intelligent payment terminals, and business management solutions for small and medium-sized businesses (SMBs) in retail and digital commerce. With over 150,000 merchants globally benefiting from their solutions, Geidea has proven its dedication to empowering businesses in the digital age.
In July 2023, Geidea entered into a strategic partnership with Mastercard to provide consumers and businesses in Saudi Arabia with enhanced access to payment solutions. This collaboration expanded Geidea’s range of services and products, positioning the company as a direct and third-party issuer with access to BIN sponsorship. Additionally, Geidea leveraged Mastercard’s technology to issue BIN ranges, further enhancing payment solutions for consumers, merchants, and fintech companies across the region.
Conclusion
Geidea and Fils have embarked on a transformative journey towards a sustainable future where every digital transaction positively impacts the environment. With Geidea’s commitment to innovation and sustainability and Fils’ visionary approach to climate-conscious technology, this partnership is poised to make a lasting impact not only in the UAE’s digital payments sector but also on a global scale. As we move towards a more environmentally conscious era, Geidea and Fils are leading the way, proving that sustainable finance is the path forward and that progress and environmental stewardship can work synergistically.
