Geidea is utilising the issuance of an e-money wallet, specifically for Hajj and Umrah, to be used in over one million point-of-sale (POS) terminals deployed across multiple merchants throughout the Kingdom of Saudi Arabia.
WadzPay blockchain-based payment solutions allow Hajj and Umrah pilgrims to set up their own e-Money wallets on their mobile devices to be used for their expenses. Once the wallet is loaded, the pilgrim is ready to spend in Saudi Arabia with lower transaction fees and a user-friendly refund process.
WadzPay partnered with Algorand, a high-performance, next-generation ISO 20022 and Sharia-compliant blockchain with a roadmap to 46,000 transactions per second to deliver stability and near-instant finality to its clients.
The pilgrim market is an incredibly important part of the Saudi economy, which is why partnering with WadzPay is a move that will unlock vast SME business success for merchants across the Kingdom. The integration of an e-wallet into over a million merchant POS systems will also make transactions faster and safer for the millions of pilgrims that visit Hajj and Umrah every.