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Tabby issues digital Visa card that lets users tap now, pay later

Source: Tabby

Tabby, the Middle East’s leading buy now, pay later provider, has partnered with Visa, the world leader in digital payments and M2P Fintech, Asia's largest API infrastructure company to make in-store payments easier than ever before with the Tabby Visa Card.

Shoppers will be able to activate their virtual Tabby Card on the Tabby app available for free for Tabby's customers to add to their digital wallets and tap the payment terminal at checkout to split their payments.

With over 1.5 million active shoppers in Saudi Arabia and the UAE, Tabby’s app lets shoppers split their purchases into four interest-free payments at thousands of brands including IKEA, Nike, Adidas, Level Shoes, Aldo, Dyson and hundreds more in-store.

Tabby was the first buy now, pay later provider in the Middle East to introduce its QR based in-store solution for omni-channel shopping experiences. Tabby Card is the next generation of Tabby’s in-store solution creating a more familiar shopping journey for customers - tap and pay. The solution also lets retailers offer flexible payments with existing payments infrastructure and processes without integration.

The Tabby Card is just one of several milestones the company has achieved recently, which include being the first buy now, pay later provider to launch a cashback program, and closing their series B funding round at $154 million in equity and debt this year.

Daniil Barkalov, COO and Co-founder of Tabby, said:
“Despite e-commerce growing in popularity, almost 90% of retail shopping in the Middle East still happens offline. At Tabby, we set out to create rewarding shopping experiences wherever customers purchase. The Tabby Card will take our in-store solution to new heights, creating a truly seamless omni-channel experience for customers to pay over time, interest-free.”

Shahebaz Khan, Visa’s General Manager for the UAE, Bahrain and Oman, said: “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. We’re delighted to partner with Tabby in bringing this innovative installment solution that will help extend the benefits of digital commerce to more consumers and businesses in the UAE.”

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.

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