Amazon Egypt launches valU’s BNPL services in Egypt
By Edlyn Cardoza
As part of Amazon Egypt’s commitment to enhance its shopping experience and provide customers in Egypt with flexible and affordable payment options, Amazon Egypt (amazon.eg) is introducing instalment plans through valU, the leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling FinTech platform in MENA, a subsidiary of EFG Hermes Holding. Amazon.eg customers who are also valU customers will be able to select the BNPL payment method on Amazon.eg store and choose their instalment plan of 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 and fast and reliable delivery.
Offering valU’s BNPL solutions to customers are 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 buy products with a minimum spend of EGP 500 on any category, including electronics, furniture, fashion, sports, grocery, baby care and beauty supplies, household appliances, and others. valU will provide customers with complete transparency and ease of planning for their instalment payments.
Peter George, Managing Director of Amazon Payment Services, said: “As we continue to grow our businesses in different parts of the world, I am very excited to see Amazon Egypt contributing to the country’s digital economy through innovation to provide our customers with the best possible shopping experience, anchored in convenient payment methods. With the thriving fintech sector in Egypt, we will continue to come up with localized, simple, affordable, and trusted payment services, including Buy-Now, Pay-Later with valU, to ensure our customers enjoy shopping on Amazon.”
With the new BNPL solution on Amazon.eg, customers can add their products to their cart, and at check out, shoppers can select the payment method to use the BNPL option with their valU accounts. Customers can then select the instalment plan with the clearly outlined amounts, and they will be prompted to add their valU account number to complete the purchase. Customers can choose the instalment plan based on their credit limit, provided by valU, to plan their purchases accordingly.
Omar Elsahy, General Manager at Amazon Egypt, said, “The collaboration with valU to support BNPL solutions to Amazon Egypt’s customers is a major step in our strategy to provide flexible and dependable payment methods for our customers. We continuously look for ways to ease the financial load on our customers as they shop for their favorite products on Amazon.eg. Through the collaboration with valU, we will provide customers the opportunity to purchase any product they desire from our growing selection of local and international brands through affordable payment option plans, facilitating their shopping experience, and widening their access to more products.”
Walid Hassouna, CEO of valU, said: “We are happy to expand our collaboration with Amazon to deliver on our mission to provide all customers with unrivalled access to products and services over convenient payment plans. valU allows customers the flexibility to make purchases without having to deplete their cash reserves and makes it easier for them to accommodate unplanned but needed purchases into their budget. By taking advantage of deferred payment methods, customers have more freedom to spend without the fear of feeling squeezed financially.”
Through the collaboration, Amazon Egypt and valU will expand their offerings to provide customers with the best of both worlds – a shopping experience with a vast selection of products in different categories that customers love the most, together with convenient payment solutions to elevate the financial burden on shoppers and enable them to achieve their desired lifestyles.
IBSi Daily News Analysis
June 08, 2023
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