Egypt: Abu Dhabi Commercial Bank and Sympl partner to offer BNPL solutions to debit card holders

Abu Dhabi Commercial Bank and Sympl partner to offer buy now and pay later (BNPL) services to the bank’s debit card holders with an exclusive 10% discount on their purchases. Debit card holders can now split their payments on short-term payment plans with no interest and with no registration process.

“We are thrilled with this partnership with Abu Dhabi Commercial Bank; we take pride that we are the first buy now pay later FinTech startup partnering with a bank in Egypt. With the deferred payment solution that Sympl offers, the bank debit card holders are empowered to buy now and pay later on short-term 0% interest plans without any pre-registration required,” Mohamed El Feky, Sympl’s Co-founder and Chief Executive Officer.

Sympl is a FinTech platform that enables its partner merchants to increase sales by selling their products and services directly to eligible bank card holders on short-term, 0% interest payments with three, four or five months plans.

The platform was launched in October 2021, by Mohamed El-Feky, Yasmine Henna, and Karim Tawfik and in December 2021, the startup raised a $6 million seed fund, led by Beco Capital with participation from A15 and Global Ventures.

It currently has 400 retail and online stores in Egypt, serves more than 30,000 customers, and established partnerships with leading merchants and service providers.

Sympl aims to accelerate its growth through merchant network expansion on multiple product and service categories and expand its service offering to large customer segments.