Buy now, pay later platform Tabby has chosen Paymob as its payments facilitator for its major expansion to Egypt.
Paymob, which is backed by the Egyptian central bank, serves over 120,000 merchants in the North African country.
Under the deal, Tabby customers will be able to use the service in those merchants for in-store and online transactions.
“Partnering with Paymob allows our technology to be instantly accessible to their network of over 120,000 retailers in Egypt,” the Dubai BNPL firm’s general manager in Egypt said.
E-commerce, and retail in general, has picked up in the Middle East and North Africa region during Covid-19. Particularly, online retail is predicted to reach a value of $48 billion by the end of 2023.
The buy now, pay later vertical has also grown in key markets in the Arab world, led by firms such as Tabby and Saudi Arabia-based Tamara.
Tabby claims to have more than 2 million active users across the UAE, Saudi Arabia, and Egypt.
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