Majid Al Futtaim, a prominent shopping mall, retail, and leisure group in the Middle East, Africa, and Asia, has announced a strategic partnership with Tabby to introduce Buy Now, Pay Later (BNPL) options to its customers. This collaboration aims to enhance the shopping experience by offering flexible payment solutions that allow customers to make purchases and pay for them later in interest-free installments. With the initial rollout in selected Majid Al Futtaim malls in the UAE, including Mall of the Emirates, City Centre Deira, City Centre Mirdif, and City Centre Al Zahia, this new payment option will soon revolutionize shopping experiences for customers in Dubai.
An Expansive Range of Participating Brands and Stores
The implementation of BNPL at Majid Al Futtaim malls and stores brings convenience and financial flexibility to customers. Shoppers can now avail themselves of this payment option at various participating outlets, both in-store and online. Famous brands like Carrefour, Lululemon, Crate & Barrel, The Lego Store, and THAT Concept Store will be among the many options where customers can utilize BNPL for their purchases. This comprehensive range of participating brands ensures that customers have a wide selection of products and services to choose from while enjoying the benefits of flexible payment options.
In-Store Payments Made Easy with the Tabby Card
To facilitate in-store payments, Majid Al Futtaim customers will receive a Tabby Card, enabling seamless transactions at the point of sale. This physical card enhances the ease of making purchases, allowing customers to embrace the BNPL option effortlessly. As the partnership progresses, more Majid Al Futtaim brands and malls will adopt this payment option, ensuring its availability throughout their extensive network. The expansion plans include both domestic and international locations, demonstrating the commitment of Majid Al Futtaim and Tabby to offer innovative payment solutions to a broader customer base.
Addressing the Growing Demand for Omnichannel Payments
The decision to introduce BNPL options at Majid Al Futtaim malls is driven by the growing demand for convenient and flexible payment solutions. Majid Al Futtaim’s point of sale data reveals a remarkable increase in BNPL sales, more than doubling in 2022 compared to the previous year. This surge highlights customers’ preference for a seamless shopping experience that allows them to manage their expenses effectively. By partnering with Tabby, Majid Al Futtaim aims to cater to this increasing demand for omnichannel payment options, providing a convenient and hassle-free shopping experience for its customers.
Hosam Arab, CEO, and Co-founder of Tabby, expressed his excitement about the collaboration with Majid Al Futtaim. He acknowledged Majid Al Futtaim as a renowned pioneer in retail and leisure across the MENA region and emphasized the opportunity to provide Tabby’s 4 million shoppers with access to a diverse range of retail and lifestyle brands. This partnership aligns with Tabby’s vision of empowering customers with flexible payment options, ultimately enhancing their shopping experiences.
Looking Ahead: A Paradigm Shift in Retail Payments
The introduction of BNPL options at Majid Al Futtaim malls marks a significant shift in retail payments in Dubai. By embracing this innovative payment solution, customers can enjoy the flexibility of paying for their purchases in interest-free installments. This not only enhances their purchasing power but also enables them to manage their finances more efficiently. With the convenience of in-store payments through the Tabby Card and the wide range of participating brands, customers can indulge in a seamless shopping experience that aligns with their preferences and financial needs.
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As Majid Al Futtaim and Tabby continue their partnership, the BNPL option is expected to expand to more malls and stores, both regionally and internationally. This collaboration highlights the commitment of both organizations to staying at the forefront of retail innovation, offering customers novel payment solutions that adapt to their evolving preferences. The introduction of BNPL at Majid Al Futtaim malls in Dubai sets the stage for a future where flexible payment options are a standard feature in the retail landscape, empowering customers and revolutionizing the way they shop.
