Tabby, UAE-based fintech startup and the region’s first ‘Buy Now Pay Later’ solution today announced that it has been launched in the Kingdom of Saudi Arabia after completing its latest round of funding.
Tabby offers customers instant, interest-free instalments at checkout that allows them to enjoy the things they buy right away and pay for them later – a helping hand to ensure shoppers can comfortably make online purchases from their favourite stores and manage their spending during the current time and beyond.
The startup empowers consumers and allows them to remain in control of their finances. It also increases customer loyalty and opens up retailers to new customers across the region. To take advantage of this innovative payment solution, upon purchasing, the user simply selects Tabby at the checkout and decides when they would like to pay. Payment can be made in full 14 days after delivery or in Installments giving customers the flexibility to pay for their purchases in multiple interest-free payments over a number of months.
Tabby’s Pay Later option is a great alternative to cash on delivery (COD) as it gives customers who prefer to see their purchases before paying for them the ability to purchase products online using only their mobile phone number and email address and requires no pre-registration or credit card to use.
Launched in 2019 by Hosam Arab, previously co-founder and CEO of online retail site Namshi, the now co-Founder and CEO of Tabby in a statement 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 capitalized 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 in 2020 and beyond, since firmly establishing themselves in the UAE. Available from June, Tabby is currently available on over 50 regional e-commerce retailers including 6th Street, Abdul Samad Al Qurashi, Golden Scent, Souqalmal, Cncpts, The Good Lifeand has recently announced its partnership with Apparel Group, with further partnership announcements to follow soon.