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News

Valu to launch in Jordan

Monday 2 October 2023 10:28 CET | News

Egypt-based Valu has announced its plans to expand its services to Jordan at the beginning of 2024. 

After undertaking a comprehensive assessment, the company is considering entering new markets in addition to Jordan, including regions in North Africa. The evaluation aligns with Valu’s business strategy which places emphasis on targeting markets with favourable dynamics to allow the implementation of its full products and services range. 

Egypt-based Valu has announced its plans to expand its services to Jordan at the beginning of 2024.

 

The expansion’s objective

Currently, in an advanced preparation stage, Valu’s decision to expand to Jordan comes as a result of extensive groundwork and market research. By entering the Jordanian market, the company aims to deliver additional solutions to both consumers and merchants, already taking the necessary steps to apply for a licence from the Central Bank of Jordan.

Valu analysed the market conditions and onboarded professionals with experience in the financial technology sector and an understanding of the local market. Over the past 18 months, the company has been working on securing partnerships with merchants in Jordan, the strategic collaborations serving as a foundation for Valu’s expansion in the region.

Considering the current conditions in the market, Valu decided to exclude the Kingdom of Saudi Arabia from its development plans. The existing circumstances do not allow the implementation of its full suite of financial solutions and the projected profitability timeline on the market does not fall within Valu’s strategy. This conclusion has been reached after examining the market for approximately 15 months.

By extending its footprint to Jordan, Valu aims to solidify its position in MENA, while supporting economic growth, fostering financial inclusion, and enabling individuals and businesses in the region.

Valu’s solutions portfolio

Launched in 2017, Valu is a financial technology provider, offering a suite of services to individuals and businesses. Through its platform U, the company offers Buy Now, Pay Later (BNPL) solutions in the MENA region, with customisable financing plans for up to 60 months across approximately 5,500 points of sale and 1,500 websites and apps. Valu’s services cover a wide range of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others.

Moreover, the company provides investment products, an instant cash redemption program, and savings solutions through the AZ Valu fund, Sha2labaz, Ulter, and Akeed. In addition, Valu extends its solutions to businesses through an HR payroll service, where organisations can manage their employees and provide financial services.

Back in January 2023, Valu entered a partnership with Sympl to enable its customers to pay with interest-free, three-month payment plans across retail partners and merchants. The company’s clients can leverage Sympl’s financial solutions and benefit from its payment plans across different product and service categories. 

Source: Link


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Keywords: growth markets, banking, digital banking, BNPL, expansion, merchant onboarding, online banking
Categories: Payments & Commerce
Companies: valU
Countries: Jordan
This article is part of category

Payments & Commerce

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valU

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