3 FinTechs offering debt-free Save now, Buy later options in MENA

By Gloria Methri

In recent years, the FinTech landscape in the Middle East and North Africa (MENA) has seen a surge in innovative payment solutions that cater to the growing demand for flexible financial management.

Among these, the Save Now Buy Later (SNBL) model has gained immense popularity. These payment options allow users to save money over time before making a purchase, promoting responsible spending while also minimising debt.

SNBL offers a savings-focused approach to big-ticket purchases rather than relying on credit and accumulating debt. The feature presents a flip side to BNPL, incentivising users to practice good money behaviour and responsibly plan their purchases.

This trend resonates with a population increasingly focused on financial wellness and planning for the future. Here are three noteworthy FinTechs providing Save Now Buy Later options to users in the MENA.

• Compound

Duba-based Compound empowers users to achieve their financial goals through a structured saving approach. It allows users to set specific savings goals for future purchases and automates the saving process, making it easy to allocate funds regularly. With features like progress tracking and budget management, Compound encourages responsible spending and helps users reach their targets without incurring debt. The app’s user-friendly interface and focus on financial education make it particularly appealing to tech-savvy consumers in the MENA region.

• Sav

Sav is a FinTech platform that enables users to save for future purchases through goal-oriented saving features. Users can create dedicated savings goals for specific items, automating the process to ensure regular contributions toward these targets. With no interest or hidden fees, Sav promotes a debt-free approach to shopping, encouraging responsible financial habits. Sav is particularly appealing to younger consumers looking to manage their finances responsibly, making it a popular choice in the UAE’s fast-growing FinTech sector.

• 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.