In a significant move to bolster the Kingdom’s small and medium-sized enterprise (SME) sector, the Saudi National Bank (SNB) has announced a partnership with fintech leaders Tarabut and Geidea to launch a new Point-of-Sale (POS) lending solution. The initiative, which is subject to final approval from the Saudi Central Bank (SAMA), aims to provide SMEs with faster and more inclusive access to working capital directly through their existing payment systems.
A Strategic Partnership For Financial Inclusion
The new financing platform represents a powerful collaboration between three major players in the Kingdom’s financial landscape. SNB, the country’s largest financial institution, will provide the lending capital. Tarabut, MENA’s leading regulated open banking platform, will supply the underlying technology and intelligence layer that enables seamless data sharing and credit assessment. Geidea, a prominent payment solutions provider, will deliver the service through its extensive regional merchant network, which includes nearly one million POS terminals.
Streamlining Access to SME Capital
This partnership is set to transform how SMEs in Saudi Arabia access finance. By integrating lending capabilities directly into the POS and eCommerce channels that merchants use daily, the solution removes traditional barriers and significantly reduces waiting times. Instead of undergoing lengthy application processes, eligible SMEs will be able to access SNB-powered financing without leaving their POS environment. This direct integration brings financing closer to the point of need, helping to bridge the Kingdom’s credit gap and empower entrepreneurs.
Driving Saudi’s Vision 2030
The initiative directly supports the goals of Saudi Vision 2030 and its Financial Sector Development Program by fostering a more dynamic and inclusive financial ecosystem for SMEs, which are considered the backbone of the national economy.
“By integrating lending directly into the platforms that SMEs already use every day, we are making access to finance faster, simpler, and more inclusive,” said Saud Abdulaziz Bajbair, Retail Business Group Head at SNB. Abdulla Almoayed, Founder and CEO of Tarabut, added, “Together with SNB and Geidea, we are delivering innovation at national scale, transforming SME finance in the Kingdom.” Geidea Group CEO, Omar Yassine, noted that the partnership is a “natural evolution” in the company’s mission to empower merchant growth and drive economic transformation.
About Saudi National Bank (SNB)
Saudi National Bank (SNB) is one of the largest financial institutions in the region and plays a pivotal role in supporting the national economy and enabling digital transformation in the banking sector. The Bank is committed to offering innovative products and services that meet the aspirations of the digital generation, through smart solutions and advanced banking experiences that align with customers’ lifestyles and interests.
About Tarabut
Tarabut is MENA’s leading regulated financial technology platform, regulated in Saudi Arabia, the UAE, and Bahrain. The company provides secure, compliant API infrastructure that enables financial institutions and digital platforms to deliver seamless, personalised financial experiences, advancing financial inclusion across the region.
About Geidea
Geidea is a leading technology firm operating in the fintech space by offering digital banking technology, smart payment terminals and business management solutions for the retail and digital commerce sectors, currently serving over 650,000 merchants worldwide. The company is expanding internationally with operations in the UAE and Egypt. Geidea believes that the latest payments and commerce technology should be accessible, affordable, and intuitive for everyone.
Source: Zawya
