valU, MENA’s leading lifestyle-enabling fintech platform, announced today that it has partnered with Telda, Egypt’s digital payments platform that offers its users payments services through its mobile application and prepaid card without the need of having a bank account to 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 partnership and offering in the Egyptian market.
Through this partnership, Sha2labaz, valU’s one-of-a-kind instant cash redemption offering that made headlines when it first launched in 2021, will now enable users to redeem cash on Telda cards through a seamless, hassle-free digitalized experience.
Customers will be able to receive instant cash on their Telda accounts from the comfort of their homes through the simple and streamlined process of scanning their receipts, linking their Telda accounts, and instantly redeeming 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 refinanced through valU’s installment plans for up to 60 months. Lastly, customers can also pay for valU’s installments through Telda directly through the valU app.
The Group Head of Product Development at valU, Ahmed Seoudy, commented: We are delighted to be partnering with Telda today and breaking ground in the Egyptian market with yet another unique and innovative offering in collaboration with the renowned payment app.
He added: 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.
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 subject to their valU limit. In 2022, valU partnered with Majid Al Futtaim (MAF) to bring Sha2labaz to MAF’s Mall of Egypt and City Centre Almaza. In 2023, valU and MAF celebrated the milestone of surpassing EGP 1 billion in sales across MAF’s shopping malls in Egypt since the start of their partnership.
