Egyptian, Emirati Fintechs Partner to Provide Installment Payments to Customers

Egypt’s discount retailer, valU, and, the Middle East’s leading online shopping destination and e-commerce platform, announced a partnership that will give noon and valU customers access to valU’s flexible installment plans. 

Walid Hassouna, CEO of the Non-Bank Financial Institutions (NBFI) platform at EFG Hermes Holding and CEO of valU, and Mostafa Salem, VP of Growth and Digital Strategy, signed the agreement at noon.

With the partnership with noon, valU-MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle fintech platform-will be able to offer customized payment plans for purchases over 500 EGP on the one-stop-shop platform for fashion, electronics, beauty, home, and baby care products.

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Making products more accessible by offering flexible payment methods will encourage a wider consumer segment to shop online, the firms said in a joint statement.

Commenting on the partnership, Hassouna stated: “We are incredibly pleased to be offering our services to noon, a digital ecosystem of products and services. Entering into new partnerships with digital innovators such as noon is a key tenet of our expansion strategy. valU will provide online consumers swift and seamless payment services that will make products more accessible, as well as help noon broaden and diversify their customer base.”

On his part, Salem, noted that the partnership with “valU aligns with noon’s strategy in creating a seamless customer experience offering multiple payment methods. We’re looking forward to increasing our customers’ transaction volumes and fulfilling their shopping needs through even more convenient and affordable payment options.”

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With this partnership, ValU plans to expand into new sectors and offer integrated services.

Since its launch, BNPL has maintained its position as the market leader in enabling fintech solutions for BNPL lifestyle, providing consumers in Egypt with access to a wide range of financing solutions.

While valU has made strides in offering services to the retail sector, it continues to explore other markets, including healthcare, education, real estate finishing, sports club financing, and many more.

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