By Edlyn Cardoza
- digital payment
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle enabling FinTech platform, PayTabs Egypt, the payment processing solution, and notchnco, an independent software vendor (ISV) for meta products, have announced a collaboration that will allow valU’s clients to enjoy a unique WhatsApp shopping experience. For the first time in Egypt, through an automated workflow developed by notchnco, valU is capitalising on WhatsApp’s business Application Programming Interface (API) while processing payments via PayTabs Egypt’s digital payment solutions to offer clients the convenience of paying via chat.
“It is part of our strategy to offer all-inclusive solutions to clients through unique, innovative partnerships that break new ground in MENA’s fintech market,” said Karim Eyada, Country Business Development Manager of PayTabs Egypt. “We are excited to be utilising the synergies across our NBFI platforms with our sister company valU to widen our scope of products, services, and partnership network through this collaboration with notchnco. This offering will contribute towards promoting a cashless payment culture in the region via a secure, seamless, and integrated user experience available on an extensively used social media app.”
Through this partnership, notchnco’s ‘humanised’ chatbot software for WhatsApp will enable valU to target various consumer groups with tailored offers relevant to their interests, purchasing cycles, and buying behaviours. This will allow valU to offer a specific customer base a personalised shopping experience. The advantage is that it will enable convenient campaign-based selling by sending targeted and timely messages to opted-in customers, with the added benefit of an unlimited number of characters. With PayTabs Egypt providing instant payment links through WhatsApp, the process will be fully automated from beginning to end. This will provide the customer with a smooth, seamless payment experience and the opportunity to take advantage of valU’s affordable and flexible 6- to 60-month installment payment plans.
Bassel ElTokhy, COO of valU, commented, “This is a historic moment for us as we partner with an innovative fintech player like notchnco to provide the most convenient and up-to-date digital-friendly shopping experience. With 60% of our population under the age of thirty, this new offering is exactly what the youth are looking for. This collaboration not only diversifies our network of partners, but further cements our position as a champion of the latest digital solutions in MENA’s retail space alongside our sister company, PayTabs Egypt. Offering an even more seamless user experience, valU customers can now enjoy our customisable BNPL payment plans in an end-to-end automated process through notchnco’s chatbot and complete their payments via PayTabs Egypt, all through a single platform – WhatsApp.”
notchnco is a business that aims to utilise artificial intelligence (AI) and machine learning technologies that effectively serve the customer’s experience. It currently operates in Abu Dhabi and Cairo, offering its patented omnichannel platform and humanised chatbot software, notchbot. This platform is customisable to different merchants with proactive messaging tools and a sales tool. notchbot creates a user-friendly experience with an interactive platform that allows users to build their own chatbots. It has been designed to seamlessly lead the user into the conversation flow through different interactions, intents, and channels.
“We are delighted to be partnering with two premier players in Egypt’s fintech scene, valU and PayTabs Egypt, to offer customers a seamless and fully automated user experience while enjoying the convenience of customisable installment plans. This collaboration reflects a main cornerstone of our purpose as a company which is to make customers’ experience more flexible, intelligent, and personal. Customers will be able to make purchases through our intuitive AI-powered notchbot, choose one of valU’s payment plans, and complete their purchase through PayTabs Egypt’s payment gateway in one all-inclusive shopping experience,” said Bassem Nassif, Founder and CEO of notchnco.
“It was a one-of-a-kind experience working with the number one BNPL player in Egypt, driving conversions for their business growth to engage customers for unique offers and installment payment schedules via a complete software suite developed by notchnco, inspired by valU’s team, finalised through PayTabs Egypt payment gateway, and enabled by WhatsApp’s business API,” he added.
This agreement illustrates EFG Hermes Holding’s strategy to capitalise on synergies between its business lines and further cross-selling opportunities across its NBFI platforms to offer clients and partners bespoke, comprehensive financing solutions. This partnership with notchnco is the latest in several collaborations between valU and PayTabs Egypt, having signed partnerships with Mazadat, Inertia Real Estate, Lulu Market, EgyptAir, and The Knowledge Hub Universities, among others, to offer convenient financing plans and e-payment processing to their clients in the past few years.