Decide which cookies you want to allow.
The new feature introduces the concept of Installment on Delivery to the Egyptian market and elevates the shopping experience as well as boosts sales for e-commerce businesses.
Cairo, January 22, 2024
Valu, MENA’s leading universal financial technology powerhouse, announced its partnership with Bosta, the leading tech-enabled last-mile delivery service provider in Egypt and Saudi Arabia, via a strategic agreement. PayTabs Egypt, MEASA’s award-winning payments powerhouse, developed this innovative feature to facilitate the payment of shipments using the installment on delivery (IOD) feature through the Valu app for the first time in Egypt. This agreement aims to elevate the purchasing process and boost sales for e-commerce businesses.
This strategic move comes in response to the needs of small and medium-sized businesses, with Bosta offering a value-added service of installment payments for their customers at no additional cost. Upon delivery, customers are given the opportunity to pay in installments via Bosta’s courier. Customers with a Valu account are provided with convenient installment plans ranging from one to sixty months. This innovative approach will significantly enhance the convenience and affordability of shopping for customers.
Expressing his enthusiasm for the partnership, Motaz Lofty, Business Development and Strategic Partnerships Senior Director of Valu, stated, “We are thrilled to announce our partnership with Bosta, a leading logistics service provider in Egypt and Saudi Arabia. This strategic agreement will transform the concept of shipping in Egypt, offering greater benefits to e-commerce businesses. By collaborating with Bosta, Valu aims to ease the purchasing process and achieve higher sales for our valued customers. This innovative initiative reflects our commitment to providing convenient and flexible installment solutions, making the buying experience seamless and accessible for all by bypassing the need for the merchant to register for Valu's services. Hence, an unnecessary step that complicates closed-loop financing will be eradicated.
Mohamed Ezzat, CEO and Co-founder of Bosta, said, “We are extremely excited to sign this agreement with Valu, especially as Bosta is the first shipping company in Egypt to offer this service to its customers. This presents a remarkable opportunity for us to enhance growth for businesses and provide superior service for our clients.”
Karim Eyada, General Manager of PayTabs Egypt, commented, “We are proud to partner with Valu and Bosta on this groundbreaking initiative. PayTabs Egypt’s secure and reliable payment gateway will ensure a smooth and seamless experience for both businesses and consumers. We believe this partnership has the potential to have a positive impact on e-commerce growth in Egypt. The duration of the entire transaction will be shorter than the time required to count cash.”
Since its inception at the end of 2017, Valu has continued to revolutionize the Egyptian fintech landscape through its innovative offerings as part of its broader strategy to improve people’s quality of life and contribute to promoting financial inclusion across the country. Over the years, Valu has consistently pushed the boundaries of the market by introducing innovative and deeply integrated financial solutions. Today, Valu is a household name in Egypt; it plays a pivotal role in fostering financial empowerment and inclusivity within the market, extending its services to include investment products, an instant cash redemption program, and savings solutions through five unique verticals: U, Business, Akeed, Flip, and Invest.
-ENDS-
About Valu
Valu is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region, providing customizable financing plans for up to 60 months across more than 6,000 brands and over 1,500 websites and apps – covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, and savings solutions through the AZ Valu fund, Sha2labaz, Ulter and Akeed, respectively. In addition, Valu offers business-to-business solutions with a hassle-free HR payroll service and more. As an award-winning fintech player in the MENA region, Valu embraces a progressive mindset with an agile workforce committed to architecting innovative financial solutions.
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
melgammal@Valu.com.eg
Omar Salama
Communications Manager of EFG Holding
osalama@Valu.com.eg
Valu Public Relations Team
Public_Relations@Valu.com.eg
Note on Forward-Looking Statements
In this press release, Valu may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only Valu’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations, and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
About Bosta
Founded in 2017, it is the leading logistics-tech company in Egypt. Its main goal is to empower e-commerce businesses through easy and advanced technology. Bosta offers end-to-end solutions for fulfillment, shipping, and performance analysis, all in one place.
More Information can be found at: www.bosta.co
About PayTabs Egypt
PayTabs Egypt Solutions is Egypt’s most innovative provider of digital payment solutions. The company is a joint venture between PayTabs, MENA’s award-winning provider of fintech and B2B payment solutions, and EFG Holding, a trailblazing financial institution with a universal bank in Egypt and the leading investment bank franchise in Frontier and Emerging Markets (FEM). PayTabs Egypt provides merchants with the market’s leading online payment gateway solutions. It supports multiple digital payment options, white labeling platforms, and a range of e-commerce, m-commerce, and social commerce solutions.
About PayTabs Group
The PayTabs Group is an award-winning payment solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al Jouf.
Having processed the first live payment gateway transaction in 2014, today, PayTabs processes payments in multiple currencies and markets swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing, QR codes, social media payments, point of sale, and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants and super merchants.
PayTabs continues to custom build and export mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink MENA’s multi-billion-dollar payment corridors. Furthermore, the company launched PayTabs Issuance, armed with its own IP and built on globally acquired expertise is custom designed to empower any business with acquiring, issuing, managing, and controlling payments.
In 2021, PayTabs launched PayTabs Touch, MENA’s first soft POS solution to transform smartphones into merchant point of sale (POS) terminals. Then, PayTabs launched its home-owned, globally validated unified payment acquiring and issuing orchestration platform, which enables governments and large-scale originations to become independent payment platforms to serve their unique industries.
In 2022, PayTabs acquired Türkiye’s social commerce platform Paymes to complement its existing retail portfolio. In early 2023, PayTabs received payment gateway certification from Saudi Payments. By the end of 2023, PayTabs was awarded MENA’s Best Merchant Solution and the glowing recognition of Fintech Company of the Year.
PayTabs has dedicated offices in Saudi Arabia and UAE and a presence in other locales, including Jordan, Turkey, and Egypt. The company is an equal opportunities employer. More milestones on: https://site.paytabs.com/en/