Cenomi Retail, Saudi’s largest vertically integrated retailer and brand partner, has teamed up with Mena-based BNPL platform to offer seamless payment solutions across its network.
The partnership serves to bring innovative payment solutions to cater to consumers in the Kingdom.
CEO of Cenomi Retail, Gunther Helm, said: “We are delighted to partner with Tabby and bring this service to our consumers.
“The BNPL innovation has been shown to increase average order value by over 30 per cent and helps promote customer loyalty, with industry averages suggesting a repeat purchase rate of more than 40 per cent. As we roll out this relationship across our portfolio, we expect to continue to add value to our customer proposition.
“The BNPL market in Saudi Arabia is expected to see double-digit growth in the coming years. With Tabby being a leader in its field, Cenomi can offer consumers access to a strong, seamless platform that provides them with greater choice and smarter financial management. It is a testament to our focus on digital transformation and enhancing customer experience across our ecosystem and our ambition to become the number one omnichannel platform in the region.”
Currently, Tabby customers can split their payments into four with no additional fees when shopping from 10 of Cenomi Retail’s brands online, including Decathlon, FNAC and Alo Yoga. The payment method is also enabled on Apple premium reseller Aleph’s online sites and in all in-store locations throughout the country.
CEO and co-founder of Tabby, Hosam Arab, said: ” We are proud to partner with Cenomi, the leading franchise retailer in Saudi Arabia, as we both share a common vision of using technology to empower shopper experiences.
“Now millions of Tabby and Cenomi customers can pay over time without worrying about additional fees whether they’re looking for a new phone or upgrading their wardrobes.”.
Cenomi Retail, formed in 1990 as Fawaz A. Alhokair & Co by Fawaz, Salman and Abdulmajeed Alhokair, has become the leading franchise retailer in Saudi Arabia and the only listed business of its type in the Middle East.
Currently representing more than 65 brands, the company trades in over 1,300 stores across 100 shopping malls in 11 countries, with a retail platform operating on a total gross leasable area of more than 400,000 square meters.
Tabby fintech is active in Saudi Arabia, the UAE and Kuwait and is valued at $660 million in its latest round of funding from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures and Endeavor Catalyst.
