Majid Al Futtaim, the leading shopping mall, communities, retail, and leisure group across the Middle East, Africa, and Asia, has entered into a long-term strategic partnership with Tabby, the MENA region’s leading shopping and financial services app.
The partnership aims to replicate the successful BNPL model of seamless customer experience and affordable convenience into an omnichannel ecosystem, by offering interest-free credit over short-term installment plans.
According to the statement, this will be achieved while utilizing cutting-edge payment product capabilities from both organizations. The collaboration will further allow customers to better manage their spending and make purchases more conveniently both in-store and online.
Hosam Arab Co-Founder & CEO Tabby
“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.”
Mr. Joe Abi Akl, Chief Corporate Development Officer, Majid Al Futtaim Holding, said that, “According to Majid Al Futtaim’s point of sale data, Buy Now Pay Later 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.”
“Our partnership with Tabby addresses this growing demand for omnichannel payment solutions and provides the 4 million Tabby shoppers access to Majid Al Futtaim’s retail and lifestyle brands,” Mr. Abi Akl added.
Currently, Tabby can be used in 15 percent of Majid Al Futtaim’s UAE mall tenants, particularly, in the 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.
Furthermore, 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, Tabby’s offline payment solution that will be further rolled out in the UAE across Majid Al Futtaim’s brands and mall tenants before being expanded internationally.
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