FOODICS, the foremost cloud-based restaurant management technology and payments platform in the MENA region, is excited to introduce a novel Fintech solution in the B2B BNPL (“Buy Now Pay Later”) sector. This offering empowers its F&B clients in KSA to settle their subscriptions and hardware acquisitions via small, interest-free, and upfront payment-free installments, derived from their accumulated revenue through Foodics Pay.
As per Deloitte’s 2023 report on the future of BNPL, the global BNPL market has witnessed substantial growth in recent years, yet its prevalence in the Middle East lags behind other regions like Europe, North America, and Australia. Nevertheless, the escalating demand for flexible payment alternatives extends beyond consumer markets; businesses are also seeking flexible payment solutions. This development underscores a significant opportunity for Foodics and is the impetus behind the introduction of its Flex BNPL subscription plan.
Ahmad Al Zaini, Foodics CEO and Co-founder, expressed, “We perceive a tremendous opportunity to expand our market share in payments and serve a greater number of F&B establishments, given the surge in tech and digital payment adoption in the SME sector.” He further noted, “F&B merchants have historically grappled with financial pressures. Technology should be a means to enhance their financial efficiency, not impede it. At Foodics, we aspire to be the partner that bestows flexibility and simplicity upon the F&B industry. I take pride in bringing this to life with our new program ‘FLEX.’ FLEX is essential for those who wish to embrace advanced technology solutions while managing cash flow and growth.”
The B2B BNPL market remains a relatively untapped opportunity, one that Foodics aims to leverage by innovating and offering interest-free deferred installments to its clients. Through FLEX, F&B establishments can swiftly access all Foodics Tech without the burden of upfront payments, with a 0% interest rate and no concealed fees. This approach eases the financial strain on F&B SME owners and enhances their financial operations.
For more details on the new Foodics Flex product, please visit https://www.foodics.com/flex-program-landing-page/.
