The popular ‘buy now, pay later’ platform tabby is all set to secure its foot in UAE’s healthcare sector, by joining with the hybrid healthcare provider Nabta Health, which offers its medical services exclusively for women.
For Nabta, the partnership with tabby, a platform that offers users the option to pay for services on an installment basis and on zero interest, will facilitate clients to access the medical services they need through the healthcare provider’s app with flexible payment options.
“Someone’s financial position can be the difference between getting the treatment they need or not,” said Hosam Arab, CEO of tabby. The feature will be available to all members of Nabta Health, who will now get customized installment plans.
Products in Nabta Health’s marketplace will include diagnostic devices, routine blood tests, prenatal and postpartum packages (including doula services), as well-curated health and wellness options.
It is expected that more niche healthcare providers would utilize the scope of buy now, pay late schemes, enabling easier access to medical services that do not come under insurance coverage. If that happens, the buy now, pay late platforms will have their strong presence in the leading consumer-focused sectors, retail and health.
“If COVID-19 pandemic has taught us one thing, it’s that we need to improve population health, by reducing the prevalence of non-communicable diseases and boosting our collective immunity. That starts by making it easier for individuals to make the right healthcare decisions, in terms of identifying and managing health conditions and concerns, for themselves and their families.”
Buy now, pay later
Different versions of the buy now, pay later schemes have been around in the US and the more digitally connected Asian markets for a long time. But in the UAE and Saudi Arabia, it got popularized in the weeks and months immediately after the COVID-19 outbreak.
Retailers, including some of the big names in the business, have joined with platforms like tabby. The greatest boon of such services for the consumer is the absence of interest rate charges on the installments. The schemes invariably come with zero interest, and the buy now, pay later provider makes its margins through the arrangements with the retailer or service provider.
Related: IKEA partners with Tabby to offer pay later option in UAE