{"id":18437,"date":"2022-09-07T13:58:59","date_gmt":"2022-09-07T13:58:59","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=18437"},"modified":"2022-09-07T13:58:59","modified_gmt":"2022-09-07T13:58:59","slug":"uaes-buy-now-pay-later-platform-tabby-expands-to-egypt","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/09\/07\/uaes-buy-now-pay-later-platform-tabby-expands-to-egypt\/","title":{"rendered":"UAE\u2019s buy-now-pay-later platform Tabby expands to Egypt"},"content":{"rendered":"


\nThe UAE’s buy-now-pay-later platform Tabby is entering Egypt, giving customers flexible deferred payment options free of charge and interest-free when shopping in-store or online.<\/p>\n

The move comes against the background of the burgeoning fintech ecosystem in the GCC and the surge of e-commerce users in Egypt<\/a>.<\/p>\n

Tabby\u2019s ‘Split in 4’ solution provides instant purchase options, while allowing shoppers to delay payment<\/a>, splitting it into four instalments. The option is available online and offline.<\/p>\n

Tabby<\/a> Egypt\u2019s general manager Ahmed Khalil said: \u201cExpanding in Egypt is a proud moment for us at Tabby.<\/p>\n

“We\u2019re excited to provide Egyptians with flexible and honest payment experiences with no interest and no fees. We\u2019re also delighted to be a growth partner for our retail partners by helping them tap into millions of active shoppers\u201d.<\/p>\n

Today, Tabby serves more than two million shoppers across the Middle East.<\/p>\n

Founded in 2019 as part of Wamda portfolio company, Tabby operates in Saudi Arabia, the UAE, Egypt and Kuwait, and serves more than two million customers in the Middle East.<\/p>\n

\u201cAfter securing $275 million in funding from leading global and regional investors, we\u2019re looking forward to becoming Egypt\u2019s preferred BNPL services provider,\u201d said Mr Khalil.<\/p>\n

In August, Tabby secured debt financing worth $150 million from two US-based investors, as more Gulf consumers adopt the new payment method.<\/p>\n

More than 24 per cent of shoppers surveyed in the region say they used it last year.<\/p>\n

According to Precedence Research, the Middle East buy-now-pay-later market size was valued at $7.18 billion last year and is expected to reach around $89.27 billion by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"

BNPL platform Tabby sets its sights on Egypt, as more and more GCC consumers use e-commerce<\/p>\n","protected":false},"author":38,"featured_media":18438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1,4106],"tags":[2791,3973,3988,3966],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18437"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=18437"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18437\/revisions"}],"predecessor-version":[{"id":18440,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18437\/revisions\/18440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/18438"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=18437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=18437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=18437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}