FAB Bank, Tabby to launch UAE’s buy-now-pay-later solution
Thursday, 10 01 2020, Category: Banking, Country: U.A.E
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has partnered with UAE-based fintech startup Tabby to enable acceptance of their Buy-Now-Pay-Later solution at FAB merchant partners. The very first roll-out of this solution has been at Al Futtaim-owned Toys R’ Us stores in the UAE.
This partnership further consolidates FAB’s position as the leading payment service provider in the UAE, and comes as part of the roll-out of FAB’s newly launched ‘Payment as a Platform’ initiative, whereby a full range of payment needs are consolidated in a single, digital-first package.
Arjun Vir Singh, EVP - Payments at Al-Futtaim Group, said: “In order to consistently meet the changing needs of our customers, we as a Group have taken a leadership role in the market to introduce ‘new-gen’ payment solutions for our brands. We were able to deliver Buy-Now-Pay-Later in an accelerated, safe and secure manner due to the collaborative partnership between our Brands, Tabby and FAB.”
Ramana Kumar, SVP - Head of Payments and Digital Banking, PBG at FAB, said: “Further demonstrating our commitment to our merchant partners by offering them a seamless payment experience, we are pleased to announce our partnership with Tabby which has been developed to enable customers greater flexibility on payment options. This is the first of our ‘Payment as a Platform’ solution offering and demonstrates our ability to integrate with fintech partners in the shortest possible time through our API-driven payment layers.