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Cairo, September 29, 2024
Valu, MENA’s leading universal financial technology powerhouse, today announced a partnership with ShipBlu and PayTabs Egypt to transform payment methods for e-commerce deliveries in Egypt. This collaboration allows Valu customers to use their Valu limit to pay for online orders delivered by ShipBlu directly through ShipBlu's myBlu app, even if the seller is not within the Valu merchant network. PayTabs Egypt is providing secure payment processing technology to facilitate this seamless payment integration via Payment-on-Delivery (PoD).
The partnership targets e-commerce merchants and consumers, emphasizing the shift towards a cashless society. Through this collaboration, Valu customers who receive their shipments via ShipBlu can now utilize their Valu accounts for payments through the myBlu app. This innovation extends the convenience of the myBlu app, developed by ShipBlu to transform Egypt's Cash-on-Delivery experience into a Payment-on-Delivery (PoD) model. Payment methods supported include credit or debit card payments, QR code payments, and eWallets, and are now enhanced by Valu's financing services.
Commenting on the partnership, Motaz Lotfy, Business Development and Strategic Partnerships Senior Director of Valu, said, “Our collaboration with ShipBlu and PayTabs Egypt is a significant step forward in our mission to provide flexible and accessible financing options for our customers. This partnership enables us to bridge the gap between traditional cash-on-delivery models and digital payment methods, providing a seamless and efficient experience for all users via ‘Payment on Delivery’ (PoD). As Egypt continues to transition towards a cashless society, we are committed to driving innovation and supporting the digital economy through strategic partnerships like this one. Together with ShipBlu and PayTabs Egypt, we are setting a new standard for e-commerce payments, ensuring that both merchants and consumers benefit from the latest advancements in financial technology.”
Ali Nasser, Co-Founder and CEO of ShipBlu, commented, “As Egypt transitions towards a more cashless society, the concept of ‘Cash on Delivery’ is quickly becoming ‘Payment on Delivery’ (PoD). Through our myBlu app, ShipBlu is determined to lead this transformation within the shipping industry. Our seamless partnership with Valu and PayTabs Egypt demonstrates the robustness of the infrastructure we've built to manage the finances of domestic logistics. By providing six different payment methods at your door, we hope to make the online shopping experience even more convenient for shoppers and help our shippers grow their customer base.”
Haytham Morsy, Commercial Country Manager of PayTabs Egypt, added, “We are excited to strengthen our partnership with Valu, serving as the payment gateway for ShipBlu customers to access Valu’s flexible and convenient payment solutions.”
Through this collaboration, PayTabs Egypt's payment platforms will offer Valu's innovative financial technology solutions to ShipBlu’s myBlu app, empowering customers to thrive in an increasingly digital economy.
Launched earlier this year, ShipBlu's myBlu app now supports a variety of payment methods, making it a comprehensive payment gateway for merchants who do not have their own gateways. This flexibility allows shoppers to choose their preferred payment method, enhancing the overall shopping experience and supporting Egypt's progression towards a more digital and cashless economy.
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About Valu
Valu is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region through U, providing customizable financing plans for up to 60 months across more than 6,500 points of sale and over 2,000 websites and apps – covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, savings solutions, and a financing solution to facilitate the purchase of high-value purchase financing program and e-gift cards through the AZ Valu fund and EFG Hermes ONE, Sha2labaz, Akeed, Ulter, and Flip, respectively. In addition, Valu offers business-to-business through Valu Business. Valu has recently launched its prepaid card and credit card in partnership with Visa. As an award-winning fintech player in the MENA region, Valu embraces a progressive mindset with an agile workforce committed to architecting innovative financial solutions.
For further information, please contact: www.valu.com
May El Gammal
Group Chief Marketing and Communications Officer of EFG Holding
melgammal@valu.com.eg
Omar Salama
Senior Communications Manager of EFG Holding
osalama@valu.com.eg
Valu Public Relations Team
Public_Relations@valu.com.eg
About ShipBlu
ShipBlu is a logistics startup that provides businesses with integrated logistics solutions through its proprietary technology. Its platform was built to address the region's unique logistical demands, providing low-cost shipping and fulfillment services and financial management solutions for businesses of all sizes. At ShipBlu, we're not just moving packages; we're building a future with efficiency and reliability at its core, thanks to a culture that values forward-thinking and collaborative problem-solving. Find out more at www.shipblu.com
About PayTabs Egypt
PayTabs Egypt Solutions is Egypt’s most innovative provider of digital payment solutions. The company is a joint venture between PayTabs, MENA’s award-winning provider of fintech and B2B payment solutions, and EFG Holding, a trailblazing financial institution with a universal bank in Egypt and the leading investment bank franchise in the Middle East and North Africa (MENA). PayTabs Egypt provides merchants with the market’s leading online payment gateway solutions. It supports multiple digital payment options, white labeling platforms, and a range of e-commerce, m-commerce, and social commerce solutions.
The PayTabs Group is an award-winning payment solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al Jouf.
Having processed the first live payment gateway transaction in 2014, today PayTabs processes payments in multiple currencies and markets, swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing, QR codes, social media payments, point of sale, and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants and super merchants.
PayTabs continues to custom build and export mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink MENA’s multi-billion-dollar payment corridors.
In 2021, PayTabs launched PayTabs Touch, MENA’s first soft POS solution to transform smartphones into merchant point of sale (POS) terminals. Then, PayTabs launched its home owned, globally validated unified payment acquiring and issuing orchestration platform which enables governments and large-scale originations to become independent payment platforms to serve their unique industries. PayTabs Issuance, armed with its own IP and built on globally acquired expertise is custom designed to empower any business with acquiring, issuing, managing, and controlling payments.
In 2022, PayTabs acquired Türkiye’s social commerce platform Paymes to complement its existing retail portfolio. In early 2023, PayTabs received payment gateway certification from Saudi Payments. By end of 2023, PayTabs was awarded MENA’s Best Merchant Solution and the glowing recognition of Fintech Company of the year.
PayTabs has dedicated offices in Saudi Arabia and UAE and a presence in other locales including Jordan, Türkiye, and Egypt. The company is an equal opportunities employer. More milestones on: https://site.paytabs.com/en/
Note on Forward-Looking Statements
In this press release Valu may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only Valu’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.