Amazon Egypt debuts BNPL offer through valU
Amazon Egypt now offers buy now, pay later (BNPL) plans to eligible buyers through currency, the companies announced Sunday (July 3).
FinTech valU serves the Middle East and North Africa (MENA) region and is a subsidiary of EFG Hermes Holding. According to the announcement, Amazon.eg customers who are value customers will have the opportunity to choose BNPL plans, and spread payments over periods of six to 60 months.
In addition, approved buyers do not have to pay in advance and can shop across product categories, but must spend a minimum per purchase of around $ 27. The process will involve customers choosing from value options at checkout and then entering their value customer numbers if they wish to use BNPL.
“As we continue to grow our businesses in different parts of the world, I am very pleased to see Amazon Egypt contribute to the country’s digital economy through innovation to provide our customers with the best possible shopping experience, rooted in convenient payment methods,” said Peter George, CEO of Amazon Payment Services.
“With the booming fintech sector in Egypt, we will continue to come up with localized, simple, affordable and reliable payment services, including Buy-Now, Pay-Later with ValU, to ensure our customers enjoy shopping on Amazon,” he said. he continued. .
Meanwhile, Amazon Egypt’s general manager Omar Elsahy said in a statement that the agreement with ValU “is an important step in our strategy to provide flexible and reliable payment methods for our customers.”
WalU’s CEO, Walid Hassouna, said the company’s mission is to “give all customers unrivaled access to products and services over convenient payment plans … without having to drain their cash reserves and [make] It’s easier for them to accommodate unplanned but necessary budget purchases. “
When early announcement of Amazon’s deal with ValU surfaced in May, reports indicated that Amazon purchased $ 10 million of EFG Hermes Global Depositary Receipts (GDR) as part of the scheme.
See more: Amazon offers BNPL alternative to shoppers in Egypt
ValU stated that their BNPL plans are available at 5,000 points of sale and at more than 330 websites.
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