BNPL Provider Tabby Debuts Virtual Visa Card


Dubai-based buy now, pay later provider Tabby announced Tuesday (May 10) it has teamed up with Visa to launch a virtual card.

The card, created with the help of API infrastructure company M2P Fintech, is designed to make in-store payments easier for shoppers. Users can activate the card for free using the Tabby app, add it to their preferred digital wallets and tap the payment terminal at checkout to divide their payments into installments.

See more: UAE BNPL Tabby Raises $54M in Series B Funding Round

“Despite e-commerce growing in popularity, almost 90% of retail shopping in the Middle East still happens offline,” Tabby Co-founder and Chief Operating Officer Daniil Barkalov, said in the announcement.

“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.”

Founded in 2020, Tabby says it has more than 1.5 million users in Saudi Arabia and the United Arab Emirates. Its buy now, pay later (BNPL) service lets shoppers split purchases into four interest free payments with merchants that include Nike, Adidas, Dyson and IKEA.

For now, the card is invite-only for consumers in the UAE, although shoppers can get on a waitlist to gain early access. Tabby says it hopes to bring the card to additional markets soon.

The news comes two months after Tabby raised $54 million in a Series B funding round, money the company said it would use to expand its product and enter new markets.

Learn more: Tabby Remains Independent Amid Increasing Consolidation in MENA BNPL Space

PYMNTS spoke to Tabby Co-founder and CEO Hosam Arab last year about the launch of his company in a market where payment methods had been greatly undeveloped.

Arab said payment methods “lacked flexibility [and] they were high on friction, so most customers essentially just chose to pay for the eCommerce purchases in cash, which for an online retailer presented a lot of complexity and obstacles to growth.”