Tamara, the leading Buy Now, Pay Later platform in the Middle East and North Africa (MENA) region, has introduced the “Split in 6” feature for online purchases made with IKEA Saudi Arabia.
The “Split in 6” solution by Tamara will enable customers to buy IKEA products online and split their invoices into 6 payments, with no interest or hidden fees. With this feature, Tamara aims to enhance customers’ experience by offering them a convenient, hassle-free payment alternative while still ensuring the best-added value to IKEA.
The Swedish multinational conglomerate, IKEA is owned and operated by Alsulaiman Group, an investment management company, in the Kingdom. The partnership with Alsulaiman Group will allow Tamara to expand the service to IKEA Bahrain soon.
Earlier this year, Tamara raised $110 million in a Series A funding round led by Checkout.com. Since the funding round, it has expanded its offering to in-store purchases via Tamara’s mobile app and launched its services in the UAE.
“At Tamara, we are building a robust infrastructure that allows us to customize and optimize our products to add the best value for our merchant partners and their customers. We are proud to provide a unique offering to IKEA’s Saudi Arabia customers. With this new service, we will empower IKEA’s clients to make choices that suit their dreams and aspirations, without having to worry about immediate finances.”
IKEA, the global leader in home furniture design and retail, has over 500 stores worldwide and $46.4 billion in sales in 2020. IKEA entered Saudi Arabia in 1983 through Alsulaiman Group. It operates 8 customer meeting points across the Kingdom including stores and order and collection points in addition to an advanced digital commerce platform, attracting over 20 million visitors annually.
Commenting on the partnership, Mr. Omar Mugharbel, Chief Commercial Officer of IKEA Saudi, “empowering our customers to live a better everyday life is at the heart of everything we do. Our partnership with Tamara will provide our customers an easy way to shop at IKEA and continue to buy the home furnishing solutions they love with ease.”