ArabFinance: Fintech firm MNT-Halan has launched a buy-now-pay-later (BNPL) service in its app, the company announced in a recent statement.
The new service follows the companys comprehensive digital ecosystem that includes small and micro business lending, payments, consumer finance, bill payments, e-commerce, and delivery, all of which are backed by Neuron, the companys proprietary technology.
According to the new service, users are given all the tools they need to purchase, pay and have delivered anything they want when they want it. Merchants benefit from accelerated growth in their business and increased customer loyalty by offering payment flexibility. Customers are also able to use their credit limits both online and in stores.
Since its introduction three months ago, over 1,500 merchants have been onboarded through the Halan merchant app. More than 25,000 customers have transacted and an additional 50,000 new customers are currently in the onboarding process.
We are revolutionizing the shopping experience in Egypt by delivering value and convenience to the consumer in one app. We are also growing our e-commerce platform and onboarding third party merchants to increase our digital offering. Our off-line merchant feedback has also been phenomenal. I am very happy to see that we are significantly growing the revenue streams of every merchant we have onboarded, Mounir Nakhla, CEO of MNT-Halan, commented.
Founded in 2018, MNT-Halan is Egypts leading fintech ecosystem and the largest and fastest growing lender to the under- and un-banked. MNT-Halan was created to digitally bank the un-banked and substitute cash with electronic solutions.
The MNT-Halan digital ecosystem includes small and micro business lending, payments, consumer finance, bill payments, e-commerce (BNPL), and delivery. With c.1 million monthly active users, MNT-Halan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers.
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