Valu, Mena’s leading universal financial technology powerhouse, has announced its partnership with Bosta, the leading tech-enabled last-mile delivery service provider in Egypt and Saudi Arabia, through 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.

 

Transform concept of shipping

Motaz Lofty, Business Development and Strategic Partnerships Senior Director of Valu, said: “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: “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.”

 

Pivotal role

Since its inception at the end of 2017, Valu has continued to revolutionise 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 programme, and savings solutions through five unique verticals: U, Business, Akeed, Flip, and Invest.--TradeArabia News Service