With the aim of providing convenience and payment flexibility to customers, Al-Futtaim Group has joined forces with FinTech startup, Tabby to provide customers with the option to “Buy Now, Pay Later” across a selection of brands. Through this, customers can purchase products online or instore and choose to pay within 14 days or pay using interest-free instalments for up to six months.
When launched, the feature will be available on Al-Futtaim Group’s online shopping destination, muudha.com, and Al-Futtaim Watches & Jewellery’s online store. Customers will be able to sign up by clicking “Pay with Tabby” at the checkout process.
After registering with their mobile number and Emirates ID, customers get credits that can instantly be used. If customers choose to pay in instalments, they can link their Tabby account to their credit or debit card.
Regis Schulz, President of Retail at Al-Futtaim Group said, "With the change in consumer behaviour, retailers are going through a major shift globally. We are constantly looking for ways to improve the experience for our customers and are excited to introduce the Buy Now, Pay Later (BNPL) option in partnership with tabby for our customers in the UAE. This advancement in the payment landscape will help customers who are credit card averse better manage their spending by making purchases at their convenience when the funds are available.”
“Now more than ever it is important to adapt our business model to the evolving needs of our customers and introduce innovations to improve their shopping experience, putting them at the centre of it. In addition, this means that our retailers will benefit from gaining access to a larger customer base,’’ he concluded.
Al-Futtaim Group will be extending this feature to its retail stores, other brands and business units across the UAE by the end of this year.
Despite a rocky first half of the year, Saudi Arabia’s startup funding increased by 102% from H1 2019 to H1 2020, with H1 2020 already surpassing full-year 2019 by the amount of funding. Discover more data by downloading our FREE H1 2020 Saudi Arabia Venture Capital Snapshot.
هذا التقرير متوفّر أيضاً باللغة العربية على الرابط التالي: تقرير الاستثمار الجريء في المملكة العربية السعودية في النصف الأول من عام ٢٠٢٠