According to a news release, the partnership will let online and brick-and-mortar merchants using Paymob’s network offer Tabby’s buy now, pay later (BNPL) offering.
“Today there is a strong demand for greater financial freedom and flexibility to enable consumers to make their purchases,” Ahmed Khalil, Tabby Egypt’s general manager, said in the announcement. “Retailers need the technology infrastructure that allows them to plug and play solutions that offer financial freedom instantly at checkout, without interest or fees.”
Khalil added that working with Paymob makes Tabby’s technology instantly accessible to Paymob’s network of more than 120,000 retailers in Egypt.
“The variety of innovative, customer-centric digital payment methods in the MENA region is skyrocketing,” Paymob Executive Vice President for Global Business Development Omar El-Gammal said in the release “Our partnership with Tabby is key because it encompasses both physical, in-store and online, e-commerce payments solutions, to provide a better checkout experience, increased conversions and an expanded client base for merchants in Egypt.”
Tabby launched in Egypt earlier this month, saying its BNPL offering will serve the growing number of shoppers in the country who are using eCommerce.
Tabby works with a number of brands and offers shoppers a “Split in 4” tool that they can use both online and in-store, letting them pay in four interest-free installments.
The launch in Egypt comes a month after Tabby landed $150 million in debt financing to bolster its growth and product expansion in the MENA region.
As PYMNTS reported at the time, the region’s market dynamics make BNPL more relevant than in developed markets where players continue to face obstacles, as BNPL providers such as Tabby can provide more accessible and lower-cost lending.
In the wake of Tabby’s debut, BNPL has blossomed in MENA and the wider Gulf Cooperation Council (GCC) region, with the arrival of new competitors seeking a slice of the pie.
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