Majid Al Futtaim, Tabby to introduce flexible payment solutions

Retail giant Majid Al Futtaim has announced a long-term strategic partnership with the shopping and financial services app, Tabby.

This partnership, which is the first of its kind, aims to replicate the BNPL model of “seamless customer experience and affordable convenience” into an omnichannel ecosystem, by offering interest-free credit over short-term installment plans. This will be achieved while utilising payment product capabilities from both organisations.

The alliance aims to enable customers to make purchases more conveniently both in-store and online.

Currently, Tabby can be used in 15 per cent of Majid Al Futtaim’s UAE mall tenants, particularly, in Mall of the Emirates, City Centre Deira, City Centre Mirdiff and City Centre Al Zahia.

Tabby’s BNPL platform can also be used when shopping online with Carrefour and Majid Al Futtaim’s lifestyle brands such as Lululemon, Crate & Barrel, The Lego Store and THAT Concept Store.

As phase two of the partnership, Majid Al Futtaim plans to expand the offering across the GCC and the company’s entire ecosystem.

While using the facility in-store, customers will be given a Tabby Card, which will be further rolled out in the UAE across Majid Al Futtaim’s brands and mall tenants before being expanded internationally.

Advantages for four million Tabby users

 Joe Abi Akl, chief corporate development officer, Majid Al Futtaim Holding, said: “According to Majid Al Futtaim’s point of sale data, BNPL sales more than doubled in 2022 compared to the previous year. This is a clear indication that customers prefer convenience and flexibility when it comes to their shopping experience.”

Akl added that the partnership addressed the growing demand for omnichannel payment solutions and “provided four million Tabby shoppers access to Majid Al Futtaim’s retail and lifestyle brands”.

Hosam Arab, CEO and co-founder at Tabby, said: “We are thrilled to partner with Majid Al Futtaim, a leading retail and leisure pioneer in the MENA region. This partnership will allow us to bring the power of flexible payments to millions of people across the region, online and in-store.

“With Tabby, customers shopping at Majid Al Futtaim’s malls and stores can make the most out of their money and work towards reaching their financial goals.”