Amazon Egypt has integrated the solution of the buy-now-pay-later (BNPL) platform valU into its checkout to offer customers alternative financing for their purchases.
Customers of the Egyptian online marketplace will be able to access instalment plans, with no down-payment, that range from between six and 60 months.
However, customers will also need to create an account with the fintech’s BNPL service in order to access the offering, which will incur a minimum spend of £E500 (~$27).
The fintech will provide customers with complete transparency and ease of planning for their instalment payments; it said during the official announcement.
Shoppers will now be able to select the instalment plan with the amounts clearly outlined, before being prompted to add their valU account number to complete the purchase.
Customers can choose the instalment plan available for their credit limit, provided by valU, to plan their purchases accordingly.
Recognising the possibilities of Egypt’s thriving fintech sector, Peter George, MD of Amazon Payment Services, described his excitement in seeing the company “contributing to the country’s digital economy,” while speaking on the accessibility of the product, Amazon Egypt GM Omar Elsahy said that the valU integration would “widen [consumer] access to more products,” and was a “major step in our strategy to provide flexible and dependable payment methods.”
Walid Hassouna, the fintech’s CEO, added that his company “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.”