PayTabs and Tabby Forge Strategic Partnership to Boost Ecommerce in Saudi Arabia and UAE

PayTabs and Tabby for your business

The ecommerce landscape in the Middle East has been flourishing in recent times, driven by the convenience, flexibility, and possibilities of digital transactions. Millennials are actively contributing to the rapid shift from traditional to online shopping. Moreover, in 2019, smartphone penetration in the Middle East was estimated at 97%, as per a Deloitte survey. And this number has only improved since then. So, it is no wonder that the UAE has emerged as the 27th biggest ecommerce market in the world today, while Saudi Arabia is following closely at the 28th position. In fact, by the end of this year, the total ecommerce revenue in the UAE is expected to cross the $10 billion mark. Sectors such as electronics, fashion, appliances, and furniture are witnessing maximum consumer demand.

Hence, in such a scenario, the coming together of fintech giants like PayTabs and Tabby is likely to boost the ecommerce landscape in unprecedented ways. Their partnership will not only empower merchants in UAE and Saudi Arabia further but also simplify the lives of consumers. Let’s understand how.

Introducing PayTabs

PayTabs is a cutting-edge financial services company offering payment solutions for new-age businesses that want to build and grow their digital presence. It allows merchants like you to conduct business with any part of the world, accept payments in multiple currencies, and benefit from fast, secure, and efficient transactions.

PayTabs’ range of payment orchestration solutions includes 3D secure payments, point-of-sale management, prepaid card management, social media payments, and more. Apart from offering businesses a robust payment gateway, PayTabs can handle digital invoicing, QR codes, integrations, dashboards, and recurrent billing, among others. And this has already ushered in a paradigm shift in industries like hospitality, education, government, and travel. Apart from having dedicated offices in the UAE and Saudi Arabia, PayTabs enjoys a robust presence in countries like Egypt, Jordan, and Turkey.

Introducing Tabby

A top-rung app for shopping and financial services in the MENA region, Tabby has reinvented the way people think of and use money. It enables you to buy from popular brands while spending in a controlled fashion and saving intelligently. By offering flexible payments in stores and online, Tabby has helped more than 30,000 businesses drive growth and customer loyalty. These include names such as Adidas, Bloomingdale’s, H&M, IKEA, and SHEIN.

More than 10 million registered shoppers have already realized the advantage of using Tabby in the UAE, Saudi Arabia, Qatar, Bahrain, and Kuwait. Based on the app’s latest installment of funding from PayPal Ventures, Sequoia Capital, and Arbor Ventures, Tabby’s value is pegged at $660 million.

Why PayTabs and Tabby Joined Hands

The chief objective behind this partnership is to strengthen the arsenal of businesses already using PayTabs’ payment platform. The split payment solution Tabby offers will allow such merchants in the UAE and Saudi Arabia to offer customers the Buy Now Pay Later (BNPL) experience. In other words, when shoppers get ready to checkout after adding whatever they need to their cart, they will see Tabby as one of the payment options. Customers will be able to split the total bill into four parts and take enough time to pay them off without bearing any interest or fee. There are multiple advantages involved:

  • Since shoppers will have more time to pay the entire purchase amount, they will feel inclined to shop for more than they had initially planned.
  • The flexibility and freedom will motivate even casual browsers to make a purchase.
  • Instances of cart abandonment will decline since the BNPL solution will make purchases way more affordable for customers.
  • Customers will be able to buy even luxury or limited edition items owing to the installment payment system.
  • Merchants will be able to reach out to a wider base of customers, including millennials and senior citizens, and boost transaction volumes and sales.
  • By offering such a powerful alternative payment method, merchants in the UAE and Saudi Arabia can confidently enhance their brand image and scale operations.

The Way Forward

As retailers using PayTabs can easily get started with Tabby, a new era of ecommerce is ready to unfurl. Through thoughtful collaboration, PayTabs and Tabby are building a unique ecosystem where merchants can reinvent the shopping experience for customers, attract more traffic, drive more conversions, and augment revenue with minimal effort. The ecommerce landscape in the Middle East has never been more exciting!