Saudi Arabia’s PayTabs Group has partnered with shopping and payments platform Tabby who continues to roll out its BNPL services across the region.
In a statement, the firms said PayTabs will now offer Tabby’s split payment option to merchants in both Saudi Arabia and the United Arab Emirates. It will be offered as a payment option on their webstore’s checkout page, enabling online shoppers to split purchases into four interest free payments.
E-commerce continues to flourish in the region, spurred by millennial shopping habits and the digital adoption surge according to ecommercedb.com. UAE is considered the 27th largest market – and one ahead of Saudi Arabia – for ecommerce with a predicted revenue of US$10,205.5 million by 2023. Key ecommerce revenue currently stems predominantly from fashion followed by electronics, furniture and appliances.
Speaking on the deal, Hany Soliman, PayTabs Regional Head and Operating Partner for the GCC region said, “By offering split payment options, we are opening the door for merchants to attract a wider customer base and increase their average transaction size. PayTabs merchants will benefit as they offer their customers the opportunity to purchase every day, premium, or even luxury products with convenient payment options.”
Zain Khan, Director of Business Development at Tabby said: “Just in time for the peak sales season ahead, we’re excited to bring our flexible payment solutions to PayTabs through which retailers can now get set up with Tabby with minimal effort.”
Founded in 214, PayTabs is headquartered in Saudi Arabia with its other offices in the UAE, Egypt India and Turkey.