Egyptian Financial Group Hermes Holding’s buy-now-pay-later platform, valU, has partnered with Amazon to provide consumers in Egypt to purchase products and repay the full amount in instalments.
The partnership aligns with the online retailer’s objective to provide its customer a hassle-free and convenient shopping experience with flexibility of payment.
“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,” said Peter George, managing director of Amazon’s payment services division.
“With the thriving fintech sector in Egypt, we will continue to come up with localised, simple, affordable and trusted payment services, including Buy-Now-Pay-Later with valU, to ensure our customers enjoy shopping on Amazon.”
Shoppers can avail buy-now-pay-later services when they spend at least EGP500 across several categories, including electronics, furniture, fashion, sports, grocery, baby care, beauty supplies and household appliances.
“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,” said Walid Hassouna, CEO of valU.
“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.”
After adding items to carts, shoppers with valU accounts can choose the buy-now-pay-later option.
Customers can then select instalment plans based on the credit limits provided by valU.
Instalment plans range from six months to five years, with no down payment required.
Shoppers then enter their valU account number to order products and finalise the purchase.
“The collaboration with valU to support buy-now-pay-later solutions to Amazon Egypt’s customers is a major step in our strategy to provide flexible and dependable payment methods for our customers,” Omar Elsahy, general manager at Amazon Egypt.
“We continuously look for ways to ease the financial load on our customers as they shop for their favourite 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.”
In May, valU partnered with Majid Al Futtaim for the buy-now-pay-later scheme to be available in stores across Egypt’s City Centre Almaza and Mall of Egypt.
