4 BNPL platforms providing financial freedom to consumers in the UAE

By Delisha Fernandes

Buy Now Pay Later is revolutionising how customers make online and in-store purchases by making payments more flexible and convenient for shoppers. BNPL allows customers to divide payments into instalments with companies.

The global pandemic has changed consumer buying patterns and revolutionised the growth of online shopping platforms in the United Arab Emirates. The overall change in consumer behaviour and the emergence of digital payment options has made BNPL one of the fastest-growing payment methods. Many companies and BNPL players are providing innovative products and payment services for consumers in the country.

Here are four BNPL platforms providing financial freedom to consumers in the UAE

• Postpay

Founded in 2019, Postpay one of the region’s leading buy now, pay later provider. The platform empowers customers to get their desired items while controlling their financial wellness. The effortless purchase experience allows customers to split their purchases into monthly instalments across thousands of brands online and in-store.

• Spotii

Spotii is a provider of end-to-end technology solutions for instant credit enablement. Spotii helps lenders, retailers, vendors, and consumers worldwide. The platform’s product, Spotii in a Box, offers customisable B2C and B2B solutions for seamless integration and tailored instant credit offerings. Whether short-duration BNPL options or more extended credit solutions, the platform ensures risk control and regulatory compliance.

• Tabby

Tabby creates financial freedom in how people shop, earn, and save by reshaping their relationship with money. The platform has obtained a license from the Saudi Central Bank – SAMA to provide BNPL solutions. Tabby is active in Saudi Arabia, UAE and Kuwai, 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.

• Tamara

Tamara is a shopping and payments platform in Saudi Arabia and the GCC region, that aims to empower people in their daily lives and revolutionise how they shop, pay and bank. Tamara is the first well-established BNPL FinTech to have been granted a permit by the Saudi Central Bank – SAMA after completing a trial period in their Regulatory Sandbox. The platforms provide solutions to customers and partner merchants to drive innovation and deliver exceptional financial services.