Through the partnership, Tabby and Paymob aim to create a seamless BNPL solution for both in-store and online retailers.
Tabby, a UAE-based buy now pay later (BNPL) platform, has announced its partnership with Egyptian fintech company Paymob to fuel the growth of retailers in Egypt. Under this new partnership, Tabby will have access to more than 120 merchants, further growing the startup’s average order value and supporting its overall performance.
This partnership comes at a time when e-commerce is growing rapidly in the MENA region. The COVID-19 pandemic has accelerated the digital adoption of e-commerce and fintech solutions to users in the region. According to the startup, e-commerce in MENA is projected to reach $48 billion by the end of 2023.
“Today there is a strong demand for greater financial freedom and flexibility to enable consumers to make their purchases,” Ahmed Khalil, General Manager at Tabby Egypt, tells StartupScene. “Retailers need infrastructure that allows them to plug and play with 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.”
Through the partnership, Tabby and Paymob aim to create a seamless BNPL solution for both in-store and online retailers. The partnership comes less than a month after Tabby announced its expansion in Egypt, raising $150 million in August this year. Meanwhile, Paymob raised $50 million in funding last May.
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