- | 9:30 am
Shoppers in the Middle East can now tap and pay later
The new card enables customers to tap their phones at checkout in physical stores to split their purchases over time, interest-free.
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Tabby, the Dubai-based Buy Now Pay Later (BNPL) provider, has partnered with Visa, the digital payments and M2P fintech enterprise, to make in-store payments easier with the Tabby Visa Card.
Shoppers can activate the card for free using the Tabby app, add it to their preferred digital wallets and tap the payment terminal at checkout to divide their payments into installments.
The card is Tabby’s in-store solution creating a more familiar shopping journey for customers ā tap and pay. The solution lets retailers offer flexible payments with existing payments infrastructure and processes without integration.
“Despite eCommerce growing in popularity, almost 90% of retail shopping in the Middle East still happens offline. At Tabby, we create rewarding shopping experiences wherever customers purchase. The Tabby Card will take our in-store solution to new heights, creating a truly seamless omnichannel experience for customers to pay over time, interest-free,” Daniil Barkalov, COO and Co-founder of Tabby, said in a statement.Ā
Tabby was among the first BNPL providers in the Middle East to introduce its QR-based in-store solution for omnichannel shopping experiences.Ā
With over 1.5 million active shoppers in Saudi Arabia and the UAE, Tabby’s app enables shoppers to split their purchases into four interest-free payments at many brands, including IKEA, Nike, Adidas, Level Shoes, Aldo, and Dyson.Ā
The Tabby Card comes on the back of recent initiatives, including a cashback program and closing their series B funding round at $154 million in equity and debt this year.
“The Tabby Visa Card allows cardholders to evenly distribute the cost of goods at participating merchants, thereby reducing the burden on their budget. For merchants, this will mean increased sales and better conversion rates, reinforcing the principle that greater digitization of commerce brings growth opportunities for businesses,” said Shahebaz Khan, Visa’s General Manager for the UAE, Bahrain, and Oman in a statement.Ā
The Tabby Card is currently under invite-only access in the UAE, but shoppers can join the waitlist to get early access. Tabby plans to launch the card in other markets soon.