Amazon Egypt Presents BNPL Option

  • Payments
  • 05.07.2022 11:21 am

Amazon Egypt now offers purchase now, pay later (BNPL) options through valU, based on the announcement of July, 3rd

EFG Hermes Holding's FinTech valU serves MENA, so Amazon customers who use valU can select BNPL programs to spread payments over 6 to 60 months. 

Approved buyers don't need down payments and can shop across product categories, but must spend $27 per purchase. Customers will choose valU choices at checkout and submit their customer numbers to utilise BNPL. 

Peter George, managing director of Amazon Payment Services, said, “As we continue to grow our businesses globally, I am 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 Egypt's booming fintech sector, Amazon will continue to offer localised, simple, affordable, and trustworthy payment services, including Buy-Now, Pay-Later with valU. 

Amazon Egypt General Manager Omar Elsahy said collaboration with valU is a "big milestone" in providing clients with flexible and reliable payment solutions. 

Walid Hassouna, CEO of valU, claimed his company's mission is to "give unrivalled access to products and services over simple payment plans... without depleting their financial reserves" 

Amazon reportedly bought $10 million in EFG Hermes GDRs as part of its May agreement with valU.

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