Arab Financial Services (AFS) connected Tabby to its point-of-sale terminals, letting UAE merchants offer Tabby’s split payments at the till.
Shoppers can spread the cost of an in-store purchase, and merchants can offer Tabby through their AFS payment terminals. AFS says this adds no complexity to checkout and helps merchants grow sales and basket sizes. The service is available now to AFS merchants in the UAE.
Mahmoud Ismail, Group Head of Acquiring Products at AFS, says: “Consumers increasingly demand greater choice and flexibility in how they pay.” He adds that “merchants need payment solutions that allow them to respond to these expectations in a straightforward manner.”
Partnering with AFS puts flexible payments right where customers are ready to buy, at the register.
Zarik Nabi, Chief Commercial Officer at Tabby
AFS was formed in 1984 and is owned by 36 banks and financial institutions. It serves more than 60 clients in over 20 countries across the Middle East and Africa.
Tabby, a financial technology company, processes $18 billion in annualised transaction volume and serves Saudi Arabia and the UAE. In March, Apple Store UAE accepted Tabby Card for interest-free plans. In September, the company raised $233 million at a $6.5 billion valuation as it moves beyond buy now, pay later.
Tabby’s general terms, shown on one of its store listings, say shoppers may be able to split a purchase into four interest-free payments. Depending on the store and eligibility, they may also pay over up to 12 months or pay in full. The release doesn’t say whether those terms apply to AFS merchants. It also doesn’t say how many merchants are live or which retailers already offer Tabby at AFS terminals, and it gives no fees or minimum and maximum transaction sizes.
AFS also plans to extend the service to other operating markets, though it doesn’t name them.
