Amazon Egypt, amazon.eg, launches valU’s BNPL services in Egypt
- Egyptian customers can now choose to install millions of products from local and international brands at great prices, as well as fast and reliable delivery.
- Collaboration between Amazon and valU further cements valU as the leading provider of BNPL lifestyle solutions in the MENA region
Cairo: As part of Amazon Egypt’s commitment to improving its shopping experience and providing Egyptian customers with flexible and affordable payment options, Amazon Egypt (amazon.eg) is introducing installment plans through valU, the leading Buy-Now, Pay-Later (BNPL) fintech platform supporting the lifestyle in the MENA region, a subsidiary of EFG Hermes Holding. Amazon.eg customers who are also valU customers will be able to select the BNPL payment method on the Amazon.eg store and choose the installment plan of their choice, ranging from 6 to 60 months, without any down payment. Customers can choose from a wide selection of quality items from local and international brands at great prices, coupled with fast and reliable delivery.
Offering valU’s BNPL solutions to customers is part of Amazon’s customer-centric approach to providing a hassle-free shopping experience on Amazon.eg through flexible payment solutions. Amazon.eg shoppers can purchase products with a minimum spend of EGP 500 in any category, including electronics, furniture, fashion, sports, groceries, baby care, and lifestyle products. beauty, household appliances and others. valU will offer customers full transparency and ease of planning for their installment payments.
Peter George, Managing Director of Amazon Payment Services, said: “As we continue to expand our business in different parts of the world, I am very pleased to see Amazon Egypt contributing to the country’s digital economy through innovation to provide our customers with the best possible shopping experience, rooted in convenient payment methods. With the thriving fintech sector in Egypt, we will continue to provide localized, simple, affordable and reliable payment services, including Buy-Now, Pay-Later with valU, to ensure our customers enjoy their shopping on Amazon.
With the new BNPL solution on Amazon.eg, customers can add their products to their cart and at checkout, buyers will be able to select the payment method to use the BNPL option with their valU accounts. Customers can then select the installment plan with the amounts clearly shown. He will then be asked to add his valU account number to finalize the purchase. Customers can choose the installment plan based on their credit limit, provided by valU, to plan their purchases accordingly.
Omar Elsahy, Managing Director of Amazon Egypt, said: “Collaborating with valU to support BNPL solutions for Amazon Egypt customers is a major step in our strategy to provide flexible and reliable payment methods to our customers. We are constantly looking for ways to ease the financial burden on our customers when shopping for their favorite products on Amazon.eg. Through collaboration with valU, we will offer customers the flexibility to purchase any product of their choice from our growing selection of local and international brands through affordable payment option plans, facilitating their shopping experience. and expanding their access to more products.
Walid Hassouna, CEO of valU, said: “We are pleased to expand our collaboration with Amazon to fulfill our mission to provide all customers with unparalleled access to products and services through convenient payment plans. valU offers customers the flexibility to make purchases without having to deplete their cash reserves and allows them to more easily incorporate unplanned but necessary purchases into their budget. By taking advantage of deferred payment methods, customers have more freedom to spend without fear of feeling financially tied down. »
Through this collaboration, Amazon Egypt and valU will expand their offerings to provide customers with the best of both worlds: a shopping experience with a huge selection of products in different categories that customers value most, as well as convenient payment solutions. to ease the financial burden. customers and enable them to achieve the lifestyle they want.
Amazon is guided by four principles: customer obsession rather than competitive focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be the world’s most customer-centric company, the world’s best employer, and the world’s safest place to work. Customer Reviews, 1-Click Shopping, Personalized Recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire Tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out Technology, Amazon Studios and The Climate Pledge are some of the things launched by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
A subsidiary of EFG Hermes Holding established in 2017, valU is the leading buy now, pay later (BNPL) fintech platform offering convenient and customizable financing plans for up to 60 months. With over 5,000 outlets and over 330 websites, valU offers access to an extensive network of retail and e-commerce suppliers across a wide range of categories, including appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education. , travel and fashion, among others. As the first platform of its kind in the MENA region, valU customers are able to receive instant credit decisions through their devices and gain access to ever-evolving platform partners.
About EFG Hermes Holding
With a current footprint spanning 13 countries on four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 38 successful years from a pure-play investment bank in the MENA region to an impact-focused universal bank in Egypt with the first investment banking franchise in frontier emerging markets (FEM). With our proven track record and a diverse team of talented employees, we provide a wide range of financial services including advisory, asset management, securities brokerage, research and private equity in the entire GEF region. In our home country, we have the fastest growing Non-Banking Financial Institutions (NBFI) platform with operations spanning Microfinance, Leasing, Factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage financing and insurance.
And more recently, the acquisition of a majority stake in aiBANK has enabled the company to offer commercial banking products and services.
Through its three verticals, Investment Banking, Non-Banking Financial Institutions (NBFIs) and Commercial Banking, the group is uniquely positioned to consistently bring disruptive financial products and services to market, delivering a holistic portfolio that serves its growing base of individual and business customers of all sizes.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Omani | Jordan | pakistan | United Kingdom | Kenya | United States | Bangladesh | Nigeria | Vietnam
Note on forward-looking statements
In this press release, EFG Hermes Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts, but represent only EFG Hermes Holding’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond management’s control and include, among other things, the financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future laws, regulations and regulatory actions. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.