Splitit has partnered with tabby, a buy now, pay later (BNPL) provider in the Middle East.
In Brief:
tabby will integrate Splitit’s instalment payment platform through a white label solution.
tabby's merchants will then be able to offer instalment payments on credit cards.
The integration should be completed by the end of Q3.
What does this mean?
Reportedly, buy now, pay later markets are estimated to be worth $7bn in the UAE and $11bn in Saudi Arabia. Though the payment and lending method is currently associated with certain industries like fashion, integration of Splitit and tabby will enable BNPL offerings to be expanded to new categories with higher average order values.
