Amazon Egypt Rolls out BNPL Offer in Egypt via valU

Amazon Egypt Rolls out BNPL Offer in Egypt via valU

Amazon is introducing installment payment plans through valU, the leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform in MENA and a subsidiary of EFG Hermes Holding, in its quest to improve the shopping experience for its Egyptian customers through flexible and affordable payment options. Customers who are also valU customers will be able to select the BNPL payment method on Amazon and choose their installment plan of choice, ranging from 6 to 60 months, with no down-payment. Customers can choose from a large selection of high-quality items from local and international brands at low prices, with fast and dependable delivery.

Commenting on the new offering, Peter George, Managing Director of Amazon Payment Services, said “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. With the thriving fintech sector in Egypt, we will continue to come up with localized, simple, affordable, and trusted payment services, including Buy-Now, and Pay-Later with valU, to ensure our customers enjoy shopping on Amazon.”

The offering is part of Amazon’s customer-centric approach to providing a seamless shopping experience on Amazon, such as flexible payment solutions that allow shoppers to buy products with a minimum spend of $27 (EGP 500) in any category, such as electronics, furniture, fashion, sports, grocery, baby care and beauty supplies, household appliances, and others. Customers will have complete transparency and ease of planning for their installment payments with valU.

Customers can add products to their cart using the new BNPL solution on Amazon, and at the checkout, they will be able to select the payment method to use the BNPL option with their valU accounts. Customers can then choose an installment plan with clearly defined amounts. To finalize the transaction, they will be asked to provide their valU account number. Customers can plan their purchases by selecting an installment plan depending on their credit limit, which is given by valU.

“The collaboration with valU to support BNPL 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 favorite products on Amazon. 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.”

Walid Hassouna, CEO of valU expressed delight in the collaboration to deliver on valU’s mission, “We are happy to expand our collaboration with Amazon to deliver on our mission to provide all customers with unrivaled access to products and services over convenient payment plans. 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.”

As the world continues to grapple with the economic downturn, this offer couldn’t have come at a better time for the 41.36 million Egyptians who rely on e-Commerce platforms for daily consumer products. It will also help to enhance the North African country’s roughly $5.2 billion e-commerce market, which was rated 39th largest market for e-commerce in 2021 with a 44 percent gain. Last year, the Egyptian e-Commerce market contributed a 15% growth rate to worldwide e-Commerce growth.