Dubai, UAE-based conglomerate Al-Futtaim Group has recently announced a partnership with Dubai’s fintech startup Tabby that offers customers a ‘buy now, pay later’ privilege while making purchases online and offline. Customers can choose to pay within 14 days or pay via interest-free instalments for up to six months.
With this partnership, Al-Futtaim Group aims to provide payment flexibility to customers across a number of its brands.
Upon launch, Tabby payment option will be available on Al-Futtaim’s online shopping portals including muudha.com and watches.ae. Customers can sign up by clicking ‘pay with tabby’ in the online checkout process. After registering with their mobile number and Emirates ID, customers get credits that can be used instantly. If customers choose to pay in instalments, they can link their tabby account to their credit or debit card.
Commenting on the development, Regis Schulz, President of Retail at Al-Futtaim Group in a statement said,
“With the change in consumer behaviour, retailers are going through a major shift globally. We are constantly looking for ways to improve the experience for our customers and are excited to introduce the Buy Now, Pay Later (BNPL) option in partnership with tabby for our customers in the UAE. This advancement in the payment landscape will help customers who are credit card averse better manage their spending by making purchases at their convenience when the funds are available.”
Speaking of the advantages for the retailers and the future of ‘buy now, pay later’ model, Schulz further added,
“Now more than ever it is important to adapt our business model to the evolving needs of our customers and introduce innovations to improve their shopping experience, putting them at the centre of it. In addition, this means that our retailers will benefit from gaining access to a larger customer base,”
Al-Futtaim Group will be extending this feature to its retail stores, other brands and business units across the UAE by the end of 2020.