Dubai: First Abu Dhabi Bank (FAB), the UAE’s largest bank, has partnered with UAE-based fintech startup Tabby to enable acceptance of their Buy-Now-Pay-Later solution at FAB merchant partners.
The very first roll-out of this solution has been at Al Futtaim-owned Toys R’ Us stores in the UAE.
This partnership comes as part of the roll-out of FAB’s newly launched ‘Payment as a Platform’ initiative, whereby a full range of payment needs are consolidated in a single, digital-first package.
“In order to consistently meet the changing needs of our customers, we as a Group have taken a leadership role in the market to introduce ‘new-gen’ payment solutions for our brands. We were able to deliver Buy-Now-Pay-Later in an accelerated, safe and secure manner due to the collaborative partnership between our Brands, Tabby and FAB,” said Arjun Vir Singh, EVP – Payments at Al-Futtaim Group,
With Tabby’s in-store Buy Now Pay Later solution, customers can instantly make purchases and pay using interest-free instalments of up to six months by registering with their mobile phone number and Emirates ID, and linking either a debit or credit card.
This collaboration is the latest in a series of partnerships within FAB’s objective to drive more digital solutions across the UAE and the wider region. These have been readily received by our merchant partners and include, among others, the use of Payit, a mobile wallet app that eliminates the need for cash.
Our partnership with Tabby which has been developed to enable customers greater flexibility on payment options. This is the first of our ‘Payment as a Platform’ solution offering and demonstrates our ability to integrate with fintech partners in the shortest possible time through our API-driven payment layers. For our valued merchant partner Al Futtaim, we are pleased to offer the UAE’s very first in-store ‘Buy-Now-Pay-Later’ option to their customers,” said Ramana Kumar, SVP – Head of Payments and Digital Banking, PBG at FAB.
