PayTabs Collaborates with Tabby to Elevate Merchants and Customers

Posted on

PayTabs Collaborates with Tabby

The Middle East has been witnessing a sharp growth in its ecommerce space recently, owing to multiple factors. For one, smartphone penetration, which was pegged at 97% in 2019 as per a Deloitte survey, has only improved with time. Moreover, millennials are increasingly going online to shop for everything from groceries and gadgets to clothes and jewelry. In fact, sectors like fashion, appliances, furniture, and electronics are doing exceptionally well in the world of ecommerce. The recent health crisis also turned the spotlight on the convenience and flexibility of digital transactions. So, it really doesn’t come as a surprise that by this year’s end, UAE’s total ecommerce revenue is expected to cross $10 billion. In fact, globally, UAE is the 27th largest ecommerce market today, closely followed by Saudi Arabia at the 28th position.

And now, to further disrupt the ecommerce space and introduce both merchants and customers to exciting possibilities, fintech leaders like PayTabs and Tabby have joined hands. The intent is to enhance the shopping experience while helping businesses grow, expand, and reap more profits. So, let’s decode what’s in store.

A Closer Look at the Fintech Giants

Tabby

Since its inception in 2019, Tabby has quickly emerged as the go-to app for financial services and shopping in the MENA region. Its key aim is to help customers buy what they want without compromising their financial stability, and in fact, saving wherever possible.

  • Till date, over 30,000 businesses, both big and small, have leveraged the app to offer shoppers flexible payment options online and in stores.
  • Top brands such as IKEA, Adidas, H&M, SHEIN, and Bloomingdale’s have managed to boost sales and improve customer loyalty through Tabby.
  • Across Saudi Arabia, UAE, Kuwait, Bahrain, and Qatar, more than 10 million registered shoppers are making the most of this app.
  • Tabby is valued at $660 million currently, based on the most recent round of funding received from Sequoia Capital, PayPal Ventures, Endeavor Catalyst, Arbor Ventures, and others.

PayTabs

PayTabs is an award-winning provider of innovative financial services. As a business owner, if you want to create or strengthen your digital identity and stay competitive, capitalize on PayTabs’ payment solutions.

  • You can receive payments safely and efficiently from any part of the world and on time. You can reach out to new geographies and accept multiple currencies as well.
  • PayTabs’ unified payment processing orchestration system has been helping industries like hospitality, travel, education, and government, to revolutionize transactions.
  • You can choose from a wide array of solutions, including point-of-sale management, 3D secure payments, social media payments, prepaid card management, B2B payments, and more.
  • With PayTabs, you get a powerful payment gateway and can easily handle dashboards, integrations, digital invoicing, QR codes, recurrent billing, etc.
  • The payments leader has carved a special niche not only in Saudi Arabia and UAE, but also Jordan, Egypt, and Turkey.

The Partnership Will Benefit Merchants Immensely

The PayTabs and Tabby collaboration will allow online businesses in UAE and Saudi Arabia to offer more flexibility and choice to customers. Tabby already has a split payment solution in place that allows shoppers to enjoy a Buy Now Pay Later (BNPL) model. Customers can divide the entire bill into four components and pay them off one by one over a comfortable period of time. So, when merchants who are already using PayTabs get started with Tabby, the latter will show up as one of the payment options when it’s time for a shopper to check out.

By embracing Tabby, businesses can attract more traffic to their site and encourage even casual visitors to convert into paying customers. Total purchase value will also increase for most customers as they won’t feel pressured to pay for it all in one go. By integrating the PayTabs gateway with Tabby, merchants can also reach out to those who are usually on a tight budget yet aspire to own top-quality or branded products. This will boost revenue and improve the bottom line. Payment flexibility will also enhance the brand’s image, earn the customer’s confidence, and build loyalty in the long run.

Customer Experience Will Improve Too

Since Tabby’s split payment system doesn’t require customers to bear any extra interest or fee on the installments, they have the freedom to shop without stress. It will be easier for customers to manage their monthly budget and control one-time expenses too. Another key advantage of using Tabby while checking out is that even shoppers with modest incomes can purchase premium or limited-edition items without draining their savings or compromising on essential expenses.

The Ecommerce Future Looks Bright

PayTabs and Tabby’s partnership brings good news to both online merchants and customers in UAE and Saudi Arabia. Businesses can build or improve their reputation, forge better bonds with customers, get more orders, and expand their customer base. On the other hand, shoppers can enjoy more flexibility, freedom, and even financial security. Middle East’s ecommerce landscape awaits a future full of potential.