4 BNPL platforms providing financial freedom to consumers in MENA

By Gloria Methri

The Buy Now, Pay Later industry in the MENA region has experienced rapid growth, driven by the region’s youthful population, rising e-commerce activity, and the increasing demand for flexible payment options. BNPL solutions allow consumers to spread payments over time without incurring interest, making them an attractive alternative to traditional credit.

Leading players in the region, such as Tamara, Tabby, and Spotii, are leveraging advanced technology and strategic partnerships to expand their reach. The market is poised for further growth as more consumers and merchants adopt BNPL solutions, enhancing the overall shopping experience.

Let’s look at four rising payment providers offering BNPL solutions in the MENA region:

• Cashew Payments

Cashew Payments, based in the UAE, is a prominent BNPL provider offering seamless installment payment solutions. The platform allows consumers to make purchases and split the cost into interest-free installments, enhancing affordability and accessibility. Cashew Payments partners with a wide range of merchants, from retail to travel, providing flexible payment options that cater to diverse customer needs.

• MNT Halan

MNT Halan, headquartered in Egypt, is a comprehensive financial services platform that includes a robust BNPL offering. The company caters to underbanked and unbanked populations, providing accessible and convenient financial solutions. MNT Halan’s BNPL service allows consumers to make purchases and pay in installments, promoting financial flexibility and inclusion. The platform integrates various financial services, including microloans, bill payments, and e-commerce, under one umbrella.

• Shahry

Shahry, also based in Egypt, is a rising star in the BNPL sector. The company focuses on providing interest-free installment plans for online purchases. The company targets underserved market segments, offering a simple and accessible way for consumers to manage their finances. Shahry’s platform is designed to be user-friendly, enabling quick approvals and easy management of payment plans.

• Sympl

Sympl is Egypt’s first ‘save now, pay later’ FinTech platform. It offers short-term, interest-free payment plans to bank cardholders to help them manage their finances better. Sympl’s platform integrates seamlessly with various merchants, providing a hassle-free experience for both consumers and retailers. The platform eliminates the need for a lengthy application process, making it easy for users to start using Sympl.