tabby, a UAE-based Fintech startup, has launched its “Buy Now Pay Later” solution in Saudi Arabia after completing its latest round of funding. The solution enables shoppers to make instant and interest-free installments when they complete their online purchases.
The full payment can be made 14 days after delivery or in installments allowing customers the flexibility to pay for their purchases in multiple interest-free payments over a number of months — which could potentially help merchants to drive up conversion rates.
To take use this payment solution, the user simply selects Tabby at the checkout and decides when they would like to pay.
tabby’s Pay Later option is an alternative to Cash on Delivery (COD) services as it gives customers who prefer to receive their purchases before payment to make the purchase using only their mobile number or email address which requires no pre-registration or credit card usage.
Launched in 2019 by Hosam Arab, the co-Founder and CEO of tabby said,
“We are very pleased to bring our best-in-market solution to Saudi Arabia at a time when consumers and merchants alike will be strapped for cash and mindful of their cashflow. Our recent funding will give our merchant partners further security and assurance that we are sufficiently capitalised to support their sales and offer them an exciting alternative way of selling to their customers.”
Expansion into Saudi Arabia forms a key part of tabby’s growth and expansion plans for 2020 and beyond to firmly establish themselves in the UAE. Since June, tabby has been available on over 50 regional e-commerce retailers including 6th Street, Abdul Samad Al Qurashi, Golden Scent, Souqalmal, Cncpts, The Good Life with more partnership announcements to follow soon.