Dubai: The BNPL continues to run strong into 2023, as consumers in the UAE and Gulf search for low or zero interest rate purchasing options on credit.
Namshi, the fashion portal, has signed on Tabby to offer Buy Now Pay Later finance for shoppers. Incidentally, there exists another strong connect between the two - Hosam Arab co-founded Namshi in 2011 and then also did the same with Tabby. (In between, Namshi was sold to Emaar Malls, and which recently sold it to the online marketplace noon.)
“Our customers are always looking for ways to save money, so we’re always looking for ways to give them what they want,” said Manav Lohia, Namshi. “BNPL with Tabby is a great addition to our offering, and it gives our customers more flexibility than ever when it comes to paying for what they want.”
Tabby will extend payment periods of four interest-free months on purchases made using its services on Namshi. “Pay in four instalments continues to be MENA’s most preferred way to pay over time,” said a Tabby spokesperson. “(And) finding a balance between getting more time to pay while remaining interest-free.
“We may explore longer periods for large purchases to provide more flexibility, but (this will) unlikely to be a core part of Tabby’s offerings.”
Last month Tabby raised $58 million from Sequoia Capital India, STV, Paypal Ventures and others. The company works with ‘nine out of the ten largest retail groups in MENA’. It has crossed 3 million active shoppers.