ValU and Telda Join Forces to Offer Innovative Financial Solutions in Egypt

ValU, a leading fintech platform in the MENA region, has announced a groundbreaking partnership with Telda, Egypt's digital payments platform. This partnership will enable users of valU’s instant cash redemption product, “Sha2labaz,” to disburse money on Telda, a unique value proposition and the first-of-its-kind offering in the Egyptian market.

Launched in November 2021, “Sha2labaz” is an instant cash program that enables customers to receive cash reimbursements equivalent to or exceeding the total value of previously made purchases. Through this partnership, “Sha2labaz” customers will now be able to receive instant cash on their Telda accounts from the comfort of their homes through a simple and streamlined process. Customers can scan their receipts, link their Telda accounts, and instantly redeem their cash, which can be used for online payments, payments at brick-and-mortar stores, and ATM cash withdrawals, anywhere in the world.

Moreover, Telda purchases can be redeemed through “Sha2labaz” and be refinanced through valU’s installment plans for up to 60 months. Customers can also pay for valU’s installments through Telda directly through the valU app. This partnership supports Egypt's move towards a cashless society by providing digital financial solutions that ensure speed, convenience, and accessibility for the public.

Ahmed Seoudy, Group Head of Product Development at valU, commented on the partnership, saying, “We are delightedto be partnering with Telda today and to be breaking ground in the Egyptian market with yet another unique and innovative offering in collaboration with the renowned payment app. As promoting digital transformation becomes a shared goal across the world, it is important now more than ever to boost Egypt’s fintech ecosystem through digital financial solutions that ensure speed, convenience, and accessibility for the public. While different in nature, both valU and Telda share a common vision of changing the way payments are made in Egypt and supporting the country’s move to a cashless society.”

The partnership will allow both companies to leverage their respective strengths and create a stronger presence in Egypt’s financial services industry by providing more comprehensive financial solutions to their customers. Additionally, Telda CEO Ahmed Sabbah commented on the partnership, saying, "Partnering with valU is a major step forward for Telda, and underscores our mission to revolutionize the financial landscape. By joining forces, we firmly believe we can offer our users more convenient and seamless financial services while creating greater value for both businesses. This mutually beneficial strategic alliance will allow both companies to leverage their respective strengths and create a stronger presence in Egypt’s financial services industry by providing more comprehensive financial solutions to their customers.”

Launched in August 2022, Telda is the first-of-its-kind money app in Egypt that empowers its users to enjoy and take control of their finances with ease through offering a seamless digital experience. Users can open free accounts in minutes and receive Telda cards, whichthey can use for online and in-store purchases, as well as ATM cash withdrawals, all around the world. Telda's mission is to make money management simple and accessible, in line with the country’s vision of promoting financial inclusion.

ValU's partnership with Telda is a significant milestone for the fintech industry in Egypt, as it signifies a move towards digital transformation and financial inclusion in the country. The collaboration allows both companies to leverage their strengths and provide customers with a more comprehensive and seamless financial experience, ultimately supporting Egypt's goal of becoming a cashless society. With this partnership, valU and Telda are paving the way for innovative digital financial solutions that prioritize accessibility, convenience, and speed for all Egyptians.