Money Fellows and Sympl Team Up to Offer Easy Installment Payments in Egypt

FinTech platform Money Fellows announced a strategic partnership with Sympl, a 'Buy Now Pay Later' (BNPL) service provider in the Egyptian market. This collaboration aims to expand flexible payment solutions and boost users' purchasing power. The partnership will allow eligible customers to split their purchases into five payments over up to five months, directly through Sympl's payment system. This offers a more flexible way to manage daily expenses. The new service also enables Money Fellows prepaid cardholders to make instant purchases from Sympl's network of partnered merchants. The outstanding amounts can then be paid through flexible payment plans tailored to users' needs.

Enhancing Users' Financial Experience

This move comes after successful initial testing phases of the service, which focused on increasing purchasing power and providing a smoother, more secure payment experience. This supports Egypt's financial sector's digital transformation goals. With this new integration, users can choose various repayment schedules, including weekly, bi-monthly, or monthly options. They can also benefit from interest-free installment plans through Sympl's partner network. Ahmed Othman, Head of Marketing at Money Fellows, stated that this partnership is a natural extension of the platform's service development. He noted that the goal is to combine organized savings with flexible purchasing tools that enhance users' ability to meet their needs without compromising their financial stability. He added that collaborating with Sympl reinforces the company's direction towards offering practical and simple financial solutions that support financial inclusion and align with how users manage their money in Egypt. For her part, Yasmin Mohamed Hanna, Co-founder and Chief Commercial Officer at Sympl, affirmed that the partnership reflects a shared vision to provide flexible and responsible payment tools. These tools allow consumers to manage their financial commitments easily and transparently. She explained that the new service aims to simplify the shopping experience through flexible, hassle-free payment solutions, while maintaining the principle of zero interest in repayment plans. This partnership contributes to supporting financial inclusion and digital transformation efforts in Egypt. It empowers users to manage their purchases more efficiently and strengthens Money Fellows' position as an integrated platform for savings, payments, and prepaid cards, by integrating with Sympl as one of the leading deferred payment solution providers in the market.