Dubai, UAE: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure group across the Middle East, Africa and Asia, today announced a long-term strategic partnership with Tabby, the MENA region's leading shopping and financial services app.

This partnership, which is the first of its kind, brings together a Buy Now, Pay Later (BNPL) provider and an end-to-end shopping malls and retailer ecosystem to best serve customers. 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 instalment plans. This will be achieved while utilising cutting-edge payment product capabilities from both organisations. The collaboration will further enable customers to better manage their spending and make purchases more conveniently both in-store and online.

Currently, Tabby can be used in 15% of Majid Al Futtaim’s UAE mall tenants, particularly, in 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. As phase two of the partnership, 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.

Joe Abi Akl, Chief Corporate Development Officer, Majid Al Futtaim Holding, said: "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.”

Hosam Arab, Chief Executive Officer and Co-founder at Tabby, said: "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."

Media Contact: Noora Fairooz
Noora.Fairooz@edelman.com

About Majid Al Futtaim

Founded in 1992, Majid Al Futtaim is a diversified lifestyle conglomerate spanning 16 countries across the Middle East, Africa and Asia. The company employs 46,000 people representing 114 nationalities and welcomes 600 million customers to its shopping malls, communities, retail and entertainment destinations each year.

With owned assets valued at US$18 billion, Majid Al Futtaim has the highest credit rating (BBB) among privately-held corporates in the region. The company is committed to becoming Net Positive in water and carbon by 2040.

www.majidalfuttaim.com

About Tabby

Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money. Over four million active users choose Tabby to stay in control of their spending and make the most out of their money.

Over 15,000 global brands and small businesses use Tabby’s technology to accelerate growth and gain loyal customers by offering flexible payments online and in stores. Tabby is active in Saudi Arabia, UAE and Kuwait, and is valued at $660 million in its latest round of funding from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst.