Middle East and North Africa (MENA) payments and shopping app Tabby has launched in Egypt, saying its buy now, pay later (BNPL) option will serve the growing number of consumers in the country who are using eCommerce.
Tabby works with many brands and offers consumers a “Split in 4” product that they can use both online and in-store and allows them to choose to pay in four installments , without paying interest, the company said in a Tuesday (Sept. 6) press release.
“We’re excited to provide Egyptians with flexible and honest payment experiences with no interest and no fees,” Tabby Egypt General Manager Ahmed Khalil said in the release. “We’re also delighted to be a growth partner for our retail partners by helping them tap into millions of active shoppers.”
The United Arab Emirates-based company was founded in 2019 and works with 5,000 global brands and small businesses. It serves 2 million active shoppers in the Middle East and is ranked among the top 10 shopping apps in the region, according to the release.
The launch in Egypt comes a month after Tabby secured $150 million in debt financing to support its growth and product expansion in the MENA region.
As PYMNTS reported at the time, MENA’s market dynamics make BNPL more relevant than in developed markets where players continue to face challenges, as BNPL providers like Tabby can offer more accessible and lower-cost lending.
Since Tabby’s debut, BNPL has exploded in MENA and the wider Gulf Cooperation Council (GCC) region, with the arrival of new competitors vying for a slice of the pie.
“Debt commitments from two reputable institutions is validation of our strong track record and business model,” Tabby CEO and Co-Founder Hosam Arab said in an Aug. 2 press release . For all PYMNTS retail and EMEA coverage, subscribe to the daily Retail […]
I am a robot. This article is curated from another source (e.g. videos, images, articles, etc.). For the complete article please use the link provided to visit the original source or author. Content from other websites behaves in the exact same way as if the visitor has visited the other website.
Warning: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of MichelPaquin.com.