EFG Hermes Announces Partnership With Lulu Group International In Egyptby Fintechnews Africa 13 April 2021
EFG Hermes, a financial services corporation in frontier emerging markets (FEM), announced the launch of a new partnership between its NBFI subsidiaries valU for consumer finance and PayTabs Egypt with LuLu Group International in Egypt, a Middle East hypermarket and supermarket chain.
The partnership will allow LuLu shoppers to benefit from valU’s affordable and convenient financing plans, powered by PayTabs Egypt’s payment gateway.
The collaboration with valU and PayTabs Egypt will roll out in two phases.
The first phase will avail valU’s installment plans to shoppers through PayTabs Egypt platform at LuLu Hypermarket’s physical outlets.
The second phase will further see LuLu Hypermarket’s shoppers benefit from valU’s payment plans when shopping online and through the hypermarket’s phone delivery service.
Mohamed El-Feky, CEO of valU said,
“We are thrilled to be signing this partnership with LuLu Group which will see valU offer consumers convenient payment plans through its user-friendly mobile app, with a duration from six and up to 60 months across an array of products available online and in LuLu’s physical stores.
This partnership provides customers with tailored and progressive financing solutions which grant them immediate access to financing, allowing them to meet their lifestyle needs,”
Huzaifa Qureshi, Regional Director of Lulu Group International in Egypt said,
“With rapid changes in consumers’ shopping habits and the ever-increasing adoption of technology in all areas of life, we hope, through this partnership, to avail to our customers a more convenient and burden-free shopping experience both at our physical stores as well as through all of our shopping channels”
This article first appeared on fintechnews.ae