Arab Finance: valU, a financial technology company in the MENA region, has launched its digital onboarding feature on Noon, a digital marketplace, according to an emailed press release.
The step marks the first licensed buy-now, pay-later (BNPL) transaction in Egypt executed under the fintech license granted by the Financial Regulatory Authority (FRA).
The feature allows users to access valU’s financial and lifestyle services without visiting a branch or downloading the app. It is the first BNPL application to operate under the FRA’s new license, which was issued to support financial innovation and digital transformation in Egypt.
Shoppers at Noon who are not valU customers can now use valU at checkout. First-time users can complete a digital onboarding process powered by eKYC and e-signature, requiring only a National ID.
When a customer selects valU as the payment method on Noon, those without an existing account are redirected to a registration process within the platform.
The process is paperless and immediate, enabling purchases to be completed without leaving Noon or visiting a valUlocation.
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