In a first for the region, Cashew, the innovative fintech leader providing buy now pay later (BNPL) services to consumers in the United Arab Emirates (UAE) and Saudi Arabia, is partnering with du, one of the main telecom operators in the UAE and part of Emirates Integrated Telecommunications Company (EITC), to offer BNPL solutions on device financing for its customers, which can be paid over 24 months.
“With the cost of new technology rising rapidly, many consumers have been looking for a simple solution to continue to upgrade their hardware in an affordable manner. Our partnership with du marks a new chapter for both our industries to find a way to make technology more accessible to a broader range of consumers,” said Cashew Co-Founder and CEO Ammar Afif. “Another important component of this deal is the term of the payoff. Because of our deep financial relationships, we are able to offer a longer, interest-free option for consumers than what is commonly done in the BNPL space. This enables consumers to pay a lower monthly fee than they would otherwise have the option to do.”
“The leadership of du is very forward thinking. Working together, we have created a tremendous product that helps their customers and their company grow,” said Cashew Co-Founder and Chief Product Officer Ibtissam Ouassif.
“This is a very significant announcement for our company. Through our partnership with Cashew, our customers are now able to purchase devices that were originally out of their immediate price range without additional cost to them,” said du Chief Commercial Officer Karim Benkirane. “We are proud to partner with Cashew which is a leader in the BNPL space as we look to provide new opportunities for our customers.”
Cashew is one of the region’s leading “buy now, pay later” (BNPL) payment providers, offering consumers flexibility and financial opportunity to increase their purchasing power. Cashew provides lending to those who seek an alternative to traditional credit options. By partnering with regional banks in the various locations where it operates, Cashew is able to offer a wider range of products such as longer tenure and higher ticket BNPL options for consumers.
