Saudi e-commerce platform provider Salla has partnered with KSA-based Tamara to offer customers the chance to buy now and pay later without fees. This partnership enables more than 10,000 Salla merchants to offer this service to their customers through a smooth activation process.
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Using Tamara, customers can now purchase items online and pay in a single payment 30 days later or by 3 easy installments, at no fees. Paying through Tamara can be easily done at the checkout process by choosing the “Pay using Tamara” option at multiple participating merchants. Tamara aims to empower people to buy through a trustworthy, transparent, and inclusive financial solution.
Tamara works with e-commerce stores to enable them to collect their sales early, increase their average order value, increase loyalty, and improve overall sales. Tamara also helps e-commerce stores market their products and services to a wider audience.
Salla Co-Founders Salman Butt and Nawaf Hareeri, commented on this partnership, “It opens new horizons for the future of e-commerce in the region by providing a smooth and easy shopping experience for customers. The service provides a unique value proposition for customers given the flexibility of the payment terms and the fact that it is at no extra cost. As for merchants, Tamara buy now, pay later solution aims to help merchants improve their sales in a variety of ways.”
Serial Saudi investor, Musaab Hakami, an investor in both Salla and Tamara, highlighted the importance of this partnership, “This will play a big role in changing the purchasing behavior of customers in the Saudi e-commerce market. A leading fintech startup like Tamara is going to disrupt the shopping and payment experience as we know it.”
Abdulaziz Alomran, Partner at Impact46 that invested in Tamara added, “The model is revolutionizing ease of payments in e-commerce. By providing a seamless checkout process, Tamara taps into a whole new segment of customers encouraging a safe payment option and ultimately increasing merchants’ sales. We are proud to back such a great team and we are bullish of what Tamara will accomplish soon after launch."
Tamara is founded by a Saudi team that includes Nana Co-Founder Abdulmajeed Alsukhan as well as Turki Bin Zarah and Abdulmohsen Albabtain. It has attracted a group of top Saudi and global talent with previous experience at Affirm, Paypal, helloPay, Lazada, Jumia, LinkedIn, BCG, Careem, Uber, and others.
Abdulmajeed Alsukhan, Co-Founder and CEO of Tamara, commented on the occasion, “We are very proud to announce the official launch of Tamara, a Fintech startup that is driven by impact more than anything else. The region deserves a fintech company that puts customers first and cares about their financial wellbeing. Our partnership with Salla is aligned with our values by enabling SMEs to grow and serve their customers so that they can buy now and pay later.”
The Digitainment Industry saw a number of sizable investments over the last 5 years, a total of $235M invested across 98 deals from 2015 to 2019. Discover more trends and insights in our 2019 Digitainment Venture Investment Report.