Paymob, an Egyptian payment and shopping app, has partnered with Tabby, a Dubai-based buy-now-pay-later(BNPL) platform, to fuel growth for retailers in Egypt by enabling businesses across Paymob’s network to benefit from Tabby’s split in four, interest and fee-free payment solution via Paymob’s gateway. The two fintechs will seamlessly integrate Tabby’s BNPL solution into Paymob’s platform as an option for its online and in-store retailers and will be available to over 120,000 merchants.
With e-commerce growing rapidly in the Middle East, this partnership would have a long-lasting impact on the tech ecosystem in the region. Paymob enables over 30 online and in-store payment methods and empowers over 120,000 small and medium merchants to manage and scale their businesses. Meanwhile, Tabby has over two million active users and over 6,000 merchants on its platform.
Merchants will be able to grow average order value, conversion rates, and overall performance as they have access to more financing. The purchasing power of their customers will also increase as Tabby’s credit facilities are explored.
Speaking on the deal, Ahmed Khalil, Tabby Egypt’s general manager, said: “Today there is a strong demand for greater financial freedom and flexibility to enable consumers to make their purchases. Retailers need the technology infrastructure that allows them to plug and play solutions that offer financial freedom instantly at checkout, without interest or fees. Partnering with Paymob allows our technology to be instantly accessible to their network of over 120,000 retailers in Egypt.”
Paymob’s executive vice president for global business development, Omar El-Gammal, said: “The variety of innovative, customer-centric digital payment methods in the MENA region is skyrocketing. Paymob is leading the way in empowering merchants in the digital economy by giving them access to the most innovative payment methods available. Our partnership with Tabby is key because it encompasses both physical, in-store and online, e-commerce payments solutions, to provide a better checkout experience, increased conversions, and an expanded client base for merchants in Egypt.”
