Amwal Tech provides consumers with a Buy Now, Pay Later (BNPL) solution allowing credit card purchases to be split into Sharia-compliant installments up to 24 months. This service offers consumers flexibility with zero fees or interest while enabling them to retain their existing credit card rewards and points. Merchants benefit by offering customers extended payment terms directly at checkout, supported by partnerships with leading Saudi banks.
Funding
$6.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
E-commerce businesses face challenges with cart abandonment and low conversion rates due to cumbersome checkout processes. Traditional checkout methods often involve multiple steps, requiring customers to manually enter payment and shipping information, leading to friction and lost sales.
Solution
Amwal provides a one-tap biometric checkout solution designed to streamline the payment process and improve e-commerce conversion rates. The platform integrates with existing e-commerce systems, enabling businesses to offer customers a frictionless checkout experience through biometric identity verification and flexible installment options. By reducing the steps required to complete a purchase, Amwal aims to minimize cart abandonment, enhance customer engagement, and increase overall sales. The system supports secure payment processing and allows customers to split purchases into multiple installments.
Target Audience
Amwal targets e-commerce businesses looking to improve conversion rates, reduce cart abandonment, and offer flexible payment options to their customers.
Features
- One-tap biometric checkout for fast and secure transactions
- Integration with e-commerce platforms via plugins and widgets
- Flexible bank installment options (3, 6, and 12 months) for credit card users
- No-code integration for quick setup
- Passkey-based payment platform
- Supports email marketing and dynamic discounts