Saudi National Bank (SNB) has announced plans to launch a Point-of-Sale (POS) lending solution for SMEs.
The solution will be powered by Tarabut, a regulated financial technology platform in the MENA region, and delivered through Geidea, a payment solutions provider in Saudi Arabia.
The initiative is subject to all required approvals from the Saudi Central Bank (SAMA).
The collaboration between SNB, Tarabut, and Geidea aligns with Vision 2030 and the Financial Sector Development Program by providing SMEs with faster and more accessible working capital.
Saud Abdulaziz Bajbair, Retail Business Group Head at SNB, said:
“As the Kingdom’s national bank, SNB is committed to providing innovative solutions that empower SMEs. By integrating lending directly into the platforms that SMEs already use every day, we are making access to finance faster, simpler, and more inclusive.”
Tarabut provides the intelligence layer for open banking in the Kingdom, enabling banks to move beyond traditional lending and deliver instant, tailored credit experiences within platforms that SMEs already rely on.
Abdulla Almoayed, Founder and CEO of Tarabut, said:
“We are proud to be SNB’s technology partner in this landmark initiative. By bringing financing closer to the point of need, Tarabut enables digital lending for SMEs. Together with SNB and Geidea, we are delivering innovation at national scale, transforming SME finance in the Kingdom and directly advancing Vision 2030’s goals of financial inclusion and economic growth.”
Geidea’s regional merchant network covers nearly one million PoS terminals, allowing the initiative to integrate financing directly into merchants’ payment systems across POS and eCommerce channels.
The first phase of the rollout will provide SMEs with direct access to SNB financing enabled by Tarabut’s technology without leaving their POS environment.
By reducing delays and simplifying access, the initiative aims to address the Kingdom’s SME credit gap and support entrepreneurship.
Featured image credit: SNB
