The Dubai-based award-winning online payment gateway, Telr has entered into a new partnership with a leading buy-now-pay-later (BNPL) company in the UAE and Saudi Arabia, tabby, to boost its market position.
Telr launched its own BNPL solution and services as a result of this partnership, with an aim to empower its merchants with yet another payment method to accelerate their eCommerce business.
The “Telr buy now, pay later” service allows online shoppers in UAE and Saudi Arabia to make instant and interest-free installments when they complete their online purchases. The payment can be made 14 days after purchase or in installments, giving online shoppers the freedom to pay for their goods in interest-free options, billed every month.
The payment method will give online shoppers the freedom to make larger purchases more frequently and increase their interest to buy products at any given time. The solution provides smooth integration with Telr merchant sites while enabling customers to checkout seamlessly.
“We believe that payment solutions are the key to acquire new consumers, increase conversion rate, and tap into a rapidly growing retail trend. The right payment method can have a powerful effect on merchants’ sales and customer lifetime value. As a result, we constantly work on enriching our payment methods and make sure to provide our merchants with the latest payment methods and technologies. We constantly work on every pain point merchants are facing in the eCommerce world and bring in the best solution on the table.”
The BNPL solutions have helped merchants increase their conversion rate, allowing them to reach more potential customers, with an increased average transaction value, and a high number of repeat purchasers, thus ensuring a healthier cash flow for their businesses.
In addition to removing the financial barriers for online shoppers around the world, the BNPL solutions have opened the doors for new shopping trends while allowing the reach to overlooked market segments, thus reflecting positively on the customer experience.
Hosam Arab, the CEO of tabby, said, “We believe the best way to empower merchants is to empower their customers. We are so excited to partner with Telr and provide their merchants easy access to flexible payment solutions that remove pricing as a barrier and drive sales.”