ArabFinance: EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), announced the launch of a new partnership between its subsidiaries valU and PayTabs Egypt with LuLu Group International in Egypt, the Middle East’s leading hypermarket and supermarket chain, according to a press release on April 7th.
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 will roll out in two phases. The first phase will avail valU’s instalment 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.
Under the deal, valU and PayTabs Egypt will leverage their respective capabilities and unique selling points in order to deliver increased value to LuLu’s customers and elevate their shopping experience.
Established in 2017, valU is a leading fintech solutions platform offering premium, customizable financing plans. With more than 3,000 points of sale, valU offers access to a wide network of retail and e-commerce across a diverse array of sectors including residential solar solutions, education, travel, and home furnishings, among others.
PayTabs Egypt Solutions is Egypt’s most innovative provider of digital payment solutions. The company is a joint venture between PayTabs, an award-winning provider of global fintech and payment solutions, and EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM).
LuLu Group International is a highly diversified conglomerate with successful business entities in strategic locations worldwide. The group has become a key contributor in the Gulf region’s economic standing with an annual turnover worth $7.4 billion.