PAYFORT, one of the Arab world’s leading online payment service providers, is launching a payment installment service in the United Arab Emirates, Saudi Arabia and Egypt.
The new service is intended to allow e-commerce merchants to offer pay-via-installment options to customers. That could be a big help to businesses that sell major items online while giving consumers more purchasing power.
“Many consumers show a preference for purchasing-via-installments, but methods of processing monthly installments in common usage in the region have proved cumbersome for consumers,” Omar Soudodi, PAYFORT’s managing director said. “PAYFORT installments make it easy for e-commerce websites to offer purchasing-via-installment options, simplifying the payment transaction for consumers.”
PAYFORT’s new service is set up to allow customers to use credit cards to make online purchases and make payments in monthly installments to their choice of bank. Instead of going through a multi-day process to get installment credit with a financial institution, consumers can sign up for installment payments instantly through online merchants offering PAYFORT’s service.
The new service is now available in the UAE through Emirates NBD, Mashreq Bank and Abu Dhabi Commercial Bank. In Saudi Arabia, installment options are available through the Saudi British Bank, National Commercial Bank and Saudi Hollandi Bank.
