ValU partners with Telda to offer instant cash to customers

By Delisha Fernandes

ValU, a FinTech platform, announced that it has partnered with Telda, a digital payments platform that offers its users payment services through its mobile application and prepaid card without needing a bank account.

Through this partnership, “Sha2labaz” customers will be able to receive instant cash on their Telda accounts from the comfort of their homes through the simple and streamlined process of scanning their receipts, linking their Telda accounts, and instantly redeeming their cash which can be used for online payments, payments at brick-and-mortar stores, and ATM cash withdrawals, anywhere in the world.

Launched in November 2021, “Sha2labaz” is an instant cash program that enables customers to receive cash reimbursements equivalent to or exceeding the total value of previously made purchases subject to their valU limit.

Moreover, Telda purchases can be redeemed through “Sha2labaz” and be refinanced through valU’s instalment plans for up to 60 months. Lastly, customers can also pay for valU’s instalments through Telda directly through the valU app.

Ahmed Seoudy, Group Head of Product Development at valU, commented: “We are delighted to be partnering with Telda today and breaking ground in the Egyptian market with yet another unique and innovative offering in collaboration with the renowned payment app. As promoting digital transformation becomes a shared goal worldwide, it is now more important than ever to boost Egypt’s FinTech ecosystem through digital financial solutions that ensure speed, convenience, and accessibility for the public. While different, valU and Telda share a common vision of changing how payments are made in Egypt and supporting the country’s move to a cashless society.”

Ahmed Sabbah, CEO at Telda, said, “Partnering with valU is a major step forward for Telda and underscores our mission to revolutionise the financial landscape. By joining forces, we firmly believe we can offer our users more convenient and seamless financial services while creating greater value for both businesses. This mutually beneficial strategic alliance will allow both companies to leverage their strengths and create a stronger presence in Egypt’s financial services industry by providing more comprehensive financial solutions to their customers.”