Valeo, the leading financial services technology platform in the Middle East and North Africa, today announced the signing of a new cooperation agreement with ShipBlue and PayTabs Egypt with the aim of creating a qualitative shift in the field of payment solutions for e-commerce purchases in Egypt, according to the statement sent on September 29.
This partnership aims to enable customers to pay for their electronic purchases delivered by ShipBlue using their Valeo account balance through the myBlu application developed by ShipBlue, even if the corresponding online store is outside the network of merchants contracting with Valeo.
Under this partnership, PayTabs Egypt will also provide secure payment processing technology to enable payment upon delivery through the application.
It is worth noting that this partnership aims to empower merchants and customers of e-commerce platforms with the latest digital payment solutions to support the transition to a cashless society. This partnership allows Yo customers to use their balance to pay for their purchases on the myBlu application.
This partnership contributes to simplifying the payment process for myBlu customers, as it transforms the traditional cash payment method into a cash-on-delivery system (“Payment-on-Delivery”, “PoD”).
Payment methods currently supported on the myBlu application include the use of credit or debit cards, QR code or e-wallets, in addition to financing services from Valeo.
Commenting on this partnership, Moataz Lotfy, Head of Business Development and Partnerships at Valeo, said that signing a cooperation agreement with ShipBlue and PayTabs Egypt is an important step in the company’s strategy to provide flexible and easy financial solutions to customers.
Lotfy added that this agreement will contribute to enhancing the company's ability to bridge the gap between traditional cash payment solutions and digital payments, to provide a smooth and efficient financial experience for all customers by enabling them to pay their purchases in installments when they receive them through ShipBlue.
Lutfi also indicated that the company is committed to continuing innovation and enhancing the digital economy by signing more similar strategic partnerships to advance the transformation towards a cashless society. Moreover, Lutfi stressed that this partnership will contribute to setting new standards for e-commerce payments, enabling merchants and customers alike to benefit from the latest developments in the field of financial services technology.
In a related context, Ali Nasser, co-founder and CEO of ShipBlue, stated that this qualitative and rapid transformation in changing payment methods from “Cash-on-Delivery”, “CoD”) to “Payment on Delivery” ( “Payment-on-Delivery”, “PoD”), is in line with the qualitative shift of the Egyptian economy towards a cashless economy.
ShipBlue is currently leading this transformation in the shipping field in Egypt through the myBlu application that the company recently developed.
Nasser stressed that this partnership with Valeo and PayTabs Egypt reflects the strength of the infrastructure that ShipBlue was able to develop to manage the financial affairs of local logistics services, as ShipBlue now provides 6 diverse payment solutions to facilitate the customer experience when shopping online and enable merchants and companies to expand their base. their own clients.
For his part, Haitham Morsi, Regional Director of the Commercial Transactions Sector at PayTabs Egypt, expressed his happiness at consolidating cooperation with Valeo, to provide a convenient payment gateway for ShipBlue customers and enable them to use the flexible and smooth payment solutions provided by Valeo.
In addition, this partnership will contribute to the development of the financial payments sector in Egypt, by integrating advanced payment solutions from PayTabs Egypt with innovative financial technology from Valeo and making them available on the myBlu application, which will result in empowering customers in light of the increasing shift towards the digital economy.
It is noteworthy that ShipBlue Company launched and developed the myBlu application to provide a diverse and integrated package of payment solutions for merchants who do not have their own platform for payments.
This application allows customers to choose the appropriate payment solutions for them, which will enhance their shopping experience and support the transition to a digital and cashless economy in Egypt.
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