ToYou, Tabby collaborate to offer BNPL service in Saudi Arabia
The BNPL market in Saudi Arabia is expected to reach almost $5.3 billion by 2028.
Saudi Arabia’s delivery superapp ToYou has collaborated with shopping and payments app to launch ToYou Pay Later. The new buy-now-pay-later (BNPL) service will enable Tabby users to buy services from ToYou with a single bill at the end of the month.
The BNPL feature will be available for customers without any interest fee, the official press note read.
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ToYou App integrates M-commerce, logistics and on-demand services, connecting thousands of merchants with millions of users, and delivering food, pharmaceutical, consumer goods and more across KSA.
The app is available on Apple Store, Google Play and Huawei’s App Gallery.
Tabby is active in Saudi Arabia, the UAE, Kuwait, and Egypt. It has about three million active users and has onboarded more than 10,000 global brands and small businesses, including noon, Bloomingdale’s, Adidas, and SHEIN, to name a few.
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According to Research and Markets, the buy-now-pay-later payments market in Saudi Arabia is expected to have grown 81.2%, reaching $636.7 million by the end of 2022. It also predicts that BNPL payment adoption will record a compounded annual growth rate (CAGR) of 42.4% between 2022 and 2028, with BNPL gross merchandise value in the country reaching almost $5.3 billion by the end of the forecast period, up from $351.3 million in 2021.
Edited by Affirunisa Kankudti