Majid Al Futtaim, shopping centre developer and operator, has partnered with valU, Buy-Now-Pay-Later platform operating in the Middle East and North Africa, to introduce its Sha2labaz scheme to Egypt.
Shoppers at City Centre Almaza and Mall of Egypt can redeem the value of their purchases at retail outlets for cash, regardless of whether they are pre-registered members of valU.
Operated by Egyptian Finance Group (EFG) Hermes Holding, valU allows shoppers to pay back the amount in instalments over six months to five years.
“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,” said Hanny El Messiry, managing director of Majid Al Futtaim Properties’ West Region shopping malls.
“This partnership with valU is a testament to this commitment, enabling us to continue to meet and address the demands 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 and ensuring that we continue to pursue opportunities that create great moments for everyone every day,” Mr El Messiry added.
The partnership aligns with valU’s aim to expand its customer base.
valU aims to amass EGP5 million in sales per day during August and September, said Walid Houssana, CEO of valU and the Non-Bank Financial Institutions platform at EFG Hermes Holding.
“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,” said Walid Houssana, CEO of valU and the Non-Bank Financial Institutions platform at EFG Hermes Holding.
“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,” Mr Hassouna added.
The scheme will soon be available across all retail outlets operated by Majid Al Futtaim in Egypt.