Strategic partnership between (Money Fellows) and (Sympl) to provide flexible payment solutions and enhance the purchasing power of users in Egypt
Money Vellows, Africa's leading financial technology digital platform, has announced the launch of a strategic partnership with Simple, a buy now and pay later (BNPL) platform in Egypt, allowing eligible users to split product and service payments into five payments over up to 5 months directly through the Simple payment platform. Under this partnership, prepaid CartMoneyUsers will be able to make instant purchases from Simplel's partner merchant network, and pay for it through flexible payment plans.
This partnership follows the success of the testing phases of the new service, which aims to expand the purchasing power of users, provide greater financial flexibility, and provide a smooth and secure payment experience.
Through this integration with Simple, Prepaid CartMoney Vellus users will be able to benefit from flexible payment schedules that can be weekly, semi-monthly or monthly, depending on user preferences, while benefiting from interest-free partition options across Simpleple's network of partner merchants.
Ahmed Othman, Head of Marketing of Money Vellows, said: “This partnership with Simple represents a natural next step in our journey to build an integrated financial system for our users. It reflects an important development in MoneyVellows services, as we go beyond basic savings services and associations, to enable users to access direct purchasing power while maintaining the principles of responsible financial planning. By combining disciplined savings habits with flexible buying options, we enable users to meet their immediate needs without affecting their long-term financial stability.”
He added: “At Money Vellows, our mission has always been to provide simple and realistic financial solutions that are in line with the way individuals actually manage their money. The availability of Buy Now and Pay Later (BNPL) through a trusted partner such as Simple enables us to expand the purchasing power of users responsibly, while continuing to support financial inclusion and promote smart money management across Egypt.”
Yasmin Mohamed Hanna, Co-Founder and Head of Commercial Sector for Simple, said: “Our partnership with Money Vellos reflects our shared vision to provide flexible and responsible financial solutions that meet the changing needs of consumers in Egypt. Through this collaboration, we seek to expand access to buy now and pay later services, while providing a smooth and secure experience that supports financial inclusion and enables users to manage their financial obligations with greater confidence and flexibility while maintaining their long-term financial stability. At Simple, we support informed purchasing through flexible payment solutions that help customers easily divide the value of products and services, without complex procedures and with a 0% interest.”
Simple Buy Now and Pay Later (BNPL) service supports the agenda of digital transformation and financial inclusion in Egypt, by enabling users to shop with confidence while maintaining financial control. It also enhances MoneyVellous's position as the first integrated digital platform for savings, payments and prepaid cards in Egypt, in partnership with Simple as one of the main partners in postpaid solutions.