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valU teams up with a leading mall to launch its new redemption product

By Leandra Monteiro

May 19, 2022

  • BNPL
  • Domestic Payments
  • Egypt
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valU, MENA, BNPL, FinTech, The American University in Cairo, Financing Plans, Paymob, Egypt, USAMajid Al Futtaim, a shopping mall, communities, and retail pioneer across the Middle East, Africa, and Asia has partnered with valU, one of MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle enabling FinTech platforms.

Through ‘Sha2labaz’, a redemption product introduced by valU in November 2021, both non-valU and valU shoppers at Mall of Egypt and City Centre Almaza will receive cash reimbursements against any purchase they make. Payments can be made in installments by selecting one of valU’s payment tenors paid over versatile installment plans ranging from 6 to 60 months. The amount reimbursed will vary subject to the customer’s valU limit, providing instant access to easy payment solutions.

Hanny El Messiry, Managing Director of West Region Shopping Malls at Majid Al Futtaim – Properties, commented, “At Majid Al Futtaim Properties, we are constantly identifying and adopting new and innovative solutions that create elevated shopping experiences, and look to offer our customers added convenience and comfort. This partnership with valU is a testament to this commitment, enabling us to continue to meet and address the demand for flexible and efficient payment processes and plans in Egypt. We will remain dedicated to ensuring customer experience is at the heart of our operations, ensuring that we continue to pursue opportunities that create great moments for everyone, everyday.”

“We are delighted to be introducing ‘Sha2labaz’ to Majid Al Futtaim’s flagship shopping malls in Egypt in line with our ongoing efforts to offer convenient financial solutions for our customers and non-valU clients as they benefit from the opportunity to draw on valU’s seamless BNPL model. Our long-standing partnership with Majid Al Futtaim’s shopping malls in Egypt has allowed us both to offer customers an enhanced experience across the budding retail space in the country. This unique product is a testament to the versatility and ingenuity of the valU team as it reflects our clear focus on customer centricity, making sure that our customers feel empowered at all times. At valU, we stand by the belief that customers’ trust deserves to be met with innovative solutions and a seamless customer experience,” added Walid Hassouna, CEO of the Non-Bank Financial Institutions (NBFI) platform at EFG Hermes Holding and CEO of valU.

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