valU for instalment sales services, one of MENA’s most innovative Fintech platforms, and Al-Futtaim announced Tuesday the signing of a collaboration agreement that avails six-months of interest free payment plans to clients of global fashion and sports brands. Under the agreement, customers can shop from brands fashion and sport brands interest-free Ted Baker, Marks & Spencer and Toys R’ Us and avail interest-free payment plans over six months with no down payment required.
sports enhanced collaboration comes after the successful partnership of valU with IKEA in the last two years which encouraged Al-Futtaim to expand coverage to other brands. With a growing consumer segment in Egypt and the growing popularity of international brands, Al-Futtaim aims to increase consumers’ spending power and provide a lifestyle enabling solution that gives clients easier access to a portfolio of global fashion and sports brands.
Regis Schulz, President of Retail at Al-Futtaim said, ‘’With the change in consumer behaviour, retailers are going through a major shift globally. We are constantly looking for ways to improve the experience for our customers and are excited to introduce the Buy Now, Pay Later (BNPL) option in partnership with valU for our customers in Egypt. This advancement in the payment landscape will help customers who are credit card averse better manage their spending by making purchases at their convenience when the funds are available.”
“Now more than ever it is important to adapt our business model to the evolving needs of our customers and introduce innovations to improve their shopping experience, putting them at the centre of it. In addition, this means that our retailers will benefit from gaining access to a larger customer base,’’ he added.
“Since inception, valU has disrupted the market through exclusive partnerships, an innovative Fintech offering and unparalleled services that have reshaped the domestic market,” commented Mohamed El Feky, Chief Executive Officer at valU for instalment sales services.
“Landmark agreements and partnerships such as Al-Futtaim not only drive our growth in certain segments but also reshape the general market landscape. Our mission has always been and will continue to be mainly about creating a lifestyle enabling solution that augments clients’ spending power and creates more traffic for our partner brands. The exclusive relaunch of Super-Hatrick for our clients is a celebratory program to mark the partnership with such flagship brands,” he concluded.
