Sympl, Egypt’s foremost “Save Your Money Pay Later” platform for bank card holders, is partnering with the Cairo Festival City Mall (CFCM), Egypt’s leading shopping, dining, and entertainment destination, to offer its customers a Buy-Now-Pay-Later (BNPL) payment solution.
Customers will be able to shop now and pay later on short-term plans with 0% interest, without any application process or pre-registration, at all affiliated stores and brands, empowering customers to better manage their finances through their shopping experience using 3, 4, or 5 interest-free payment options.
Commenting on the partnership, Mohamed El-Feky, CEO and Co-Founder of Sympl, said “Cairo Festival City Mall is one of the country’s largest and most successful malls, and we are thrilled to offer our services to CFC Mall consumers and be a part of their success.”
“We are proud that Sympl is the first platform of its kind to empower sellers to sell their products and services directly to bank card holders on short-term, interest-free payment plans that are the best fit with customer preferences. Besides, Sympl targets more than 26 million bank card holders in Egypt,” El-Feky added.
Robert Hall, General Manager at Al-Futtaim Malls said “We are eager to provide shoppers with Sympl’s seamless buying experience, as well as its instant and flexible payment plans. We believe this collaboration will enhance customer satisfaction, and provide an exceptional payment model when shopping at Cairo Festival City Mall.”
“For more than nine years in the Egyptian market, Cairo Festival City Mall has succeeded in creating an integrated and innovative shopping experience. Throughout our journey, we have been always keen to establish successful specialized partnerships that ensure access to consumer-friendly, secured and, agile payments programs to shop at a wider range of brands at our properties,” he explained.
Cairo Festival City Mall
Sympl is Egypt’s first deferred payment service, allowing merchants to sell directly to bank cardholders on short-term, zero-interest repayment plans. The platform is an evolution of the checkout experience, offering a hassle-free purchase process that promotes customer savings and a better matching of income and expenditure without compromising lifestyle.
The startup which was founded by renowned Egyptian Fintech entrepreneurs, Mohamed El-Feky and Yasmine Henna in October 2021, serves over 30,000 clients and has over 350 merchants covering over 1,300 point-of-sale and online partners across Egypt. It has formed strategic alliances with some of Egypt’s most prominent merchants and service providers. Sympl raised a $6 million seed fund in December 2021, led by Beco Capital and with participation from A15 and Global Ventures. Sympl intends to accelerate its growth by expanding its merchant network across multiple product and service categories, as well as broadening its service offerings to large customer segments.
ABOUT CAIRO FESTIVAL CITY
Cairo Festival City is a visionary, mixed-use urban community that spans over 3 million square meters (700 acres) and is strategically located at the gateway to New Cairo city. Cairo Festival City is Egypt’s premier indoor-outdoor shopping, dining, and entertainment destination, offering spectacular residential villas and luxurious apartments, as well as prime office spaces, as well as internationally renowned hotels, international schools, and automotive showrooms, all set within a beautifully landscaped and tranquil community. The many parks, gardens, walkways, and plazas bring together the districts to enhance and foster gatherings for family and friends as an addition to Cairo Festival City amenities, combining a relaxing lifestyle and picturesque landscapes.
Also, Cairo Festival City Mall (CFC Mall) was built in 2013 and has a gross leasable area of over 160,000 square meters. CFC Mall has risen to become Cairo’s number one shopping and entertainment destination, with over 300 shops, 95 restaurants, and cafes, a 10,755 sqm Carrefour hypermarket and home furnishings flagship store, and two department stores, and 7,000 parking spaces. And unveiled Festival Avenue, Egypt’s upcoming hottest premier fashion destination at Cairo Festival City Mall (CFC Mall), which will open in 2023 and will add 80 shops and 15 restaurants to the current 310 CFC Mall outlets.