valU, Majid Al Futtaim celebrates EGP 1B BNPL sales in Egypt

Updated 2/13/2023 8:05:00 AM

Arab Finance: valU and Majid Al Futtaim had exceeded a total of EGP 1 billion in Buy-Now, Pay-Later (BNPL) sales across the latter’s shopping malls in Egypt since their partnership began, according to an emailed press release on February 12th.

Accordingly, valU will launch an exclusive one-day zero-purchase fees, zero-down payment, and zero-interest over six months offer on February 13th to celebrate the long-term partnership.

The two companies aim to continue offering customer-oriented initiatives to being an outstanding shopping experience in the Egyptian market.

Majid Al Futtaim’s shopping malls have recorded robust sales with valU’s products and special promotions, including ‘Sha2labaz’.

Sales hit record highs through the use of valU’s remarkable products and promotions that were achieved by several tenants such as Carrefour, El Araby Group, Hub Furniture, L’azurde, Mobilaty, Mazaya, Raya Electronics, Tradeline, and Vodafone.

“Our long-term partnership with valU has shown unparalleled success, reflected in the EGP 1 billion in sales. […] We look forward to continuing to drive growth while identifying opportunities that provide our community with flexible payment solutions for an unmatched shopping experience,” Managing Director of West Region Shopping Malls at Majid Al Futtaim Properties Rasha Azab commented.

For his part, Walid Hassouna, CEO of valU, said: “This milestone comes at a key time in valU’s history as we also celebrate surpassing 2 million transactions on valU since inception. Through continued successful partnerships such as this, we look forward to playing an even greater role in driving innovation in the market, benefiting individuals and businesses.”