Ubuy, a cross-border retail search engine, has partnered with Saudi fintech start-up Tamara to roll out a buy-now-pay-later (BNPL) service in Kuwait and Saudi Arabia.
With this new service, customers in these countries can shop for more than 100 million products via the Ubuy platform and split their payments in instalments.
Media spokesperson for Ubuy, Faizan, said: “We are excited to offer our customers in Kuwait and Saudi Arabia the convenience and flexibility of buy now pay later.
“Our goal is to improve the shopping experience for our customers, and we believe this new service will do just that.”
Ubuy, which operates in more than 180 countries, allows customers to choose from a variety of products and features seamlessly and conveniently, adjusting and filtering searches by price, colour and size.
In addition to its product selection, the platform also offers fast, reliable shipping and secure payment options.
“Our team has worked hard to create a user-friendly platform that offers something for everyone. Whether you’re looking for the latest gadgets, home goods, or fashion items, Ubuy has it all,” added Mr Faizan.
In the future, Ubuy intends to expand its BNPL service to other countries.
Since its inception in Kuwait in 2012, Ubuy has become a leading cross-border retail search engine that links customers to more than 100 million products from famous international brands.
Founded in 2020, Tamara was the first buy-now-pay-later platform to enrol in Saudi Central Bank’s Sandbox programme, which invites fintech companies to support the kingdom’s swift digital transformation.
It August, the company grabbed $100 million in a Series B funding round to foster its expansion across the region.
Last month, Business Wire predicted that buy-now-pay-later payments in Saudi Arabia would grow by 61.2 per cent on an annual basis to reach $1,067.7 million.
The payment adoption was expected to grow steadily over the forecast period, recording a compound annual growth rate of 31.6 per cent till 2028. with the BNPL Gross Merchandise Value in the country reaching $5,537.8 million.
