Payment - WORLDEF

Tabby’s UAE Wallet Licence Unlocks 3 Major Fintech Growth Opportunities

Middle East fintech leader Tabby has taken a major step toward becoming a full-scale financial platform after securing a Stored Value Facilities (SVF) licence from the Central Bank of the UAE.

The licence allows Tabby to hold customer funds and offer a broader range of financial services, marking a strategic shift beyond its core Buy Now, Pay Later (BNPL) model.

A shift from BNPL to full financial ecosystem

With this approval, Tabby will introduce new products including spending accounts, payment cards, and money management tools.

This move signals a clear transformation: from a payments solution into a comprehensive financial super app. Users who already rely on Tabby for flexible payments will soon be able to manage daily financial activities from spending to transfers within a single platform.

The company’s CEO, Hosam Arab, emphasized that the licence enables Tabby to “serve customers beyond credit” and redefine how users interact with money in everyday life.

Strengthening regulatory position in the GCC

The UAE licence significantly strengthens Tabby’s regulatory footprint across the Gulf region.

The company already holds a BNPL licence in Saudi Arabia and has expanded its capabilities through the acquisition of a licensed digital wallet there.

Now, with direct regulatory approvals in both key markets, Tabby is positioned to build and deploy financial services independently across the GCC, rather than relying on third-party infrastructure.

Why this matters for fintech and e-commerce

Tabby currently serves millions of users and partners with over 65,000 brands globally, including major retail and e-commerce players.

This development reflects a broader industry trend:
BNPL providers are evolving into full-service financial platforms to deepen user engagement and unlock new revenue streams.

For the UAE and wider MENA region, it also highlights the growing maturity of the fintech ecosystem, where regulators are enabling innovation while maintaining strong oversight.

Outlook

With its new licence, Tabby is expected to accelerate product innovation and intensify competition in the region’s digital finance space.

As consumer demand shifts toward integrated financial experiences, Tabby’s transition into a multi-product platform could reshape how users manage money, not just how they pay.

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Nigeria’s Role in $216B Digital Economy Signals Positive Growth for West Africa

West Africa’s digital economy is rapidly expanding, now valued at an estimated $216 billion, with Nigeria emerging as the dominant force driving this growth. The development highlights the region’s increasing importance in the global digital landscape, as governments and regulators push for stronger coordination and innovation.

According to recent reports, Nigeria accounts for the largest share of digital activity in the region, supported by its population size, growing tech ecosystem, and expanding mobile connectivity. As the biggest economy in West Africa, the country continues to lead in areas such as fintech, e-commerce, and digital services, positioning itself as a regional hub for innovation.

This momentum is being reinforced by the efforts of the West Africa Telecommunications Regulators Assembly (WATRA), which is working to create a more unified and secure digital environment across its member states. Through regulatory alignment and collaboration, WATRA aims to unlock further growth potential and ensure that digital transformation benefits both businesses and consumers across the region.

Nigeria Leads West Africa’s Digital Economy Expansion

A key driver behind this growth is the rapid adoption of mobile technologies and digital financial services. Across West Africa, mobile connectivity continues to expand, enabling millions of users to access online platforms, digital payments, and e-commerce services. These technologies are not only improving financial inclusion but also creating new opportunities for startups and entrepreneurs.

Nigeria, in particular, has seen strong growth in fintech and digital platforms, attracting both local and international investment. The country’s digital ecosystem is increasingly supported by innovation hubs, government initiatives, and a young, tech-savvy population eager to engage with new technologies.

At the same time, regional cooperation is becoming more critical. WATRA’s recent initiatives focus on building a secure, inclusive, and resilient digital ecosystem, addressing key areas such as cybersecurity, 5G deployment, and infrastructure development. These efforts are essential for ensuring sustainable growth and reducing fragmentation across markets.

However, challenges remain. Regulatory differences, infrastructure gaps, and cybersecurity risks continue to pose barriers to full digital integration across West Africa. Addressing these issues will require ongoing collaboration between governments, regulators, and private sector stakeholders.

Looking ahead, the outlook remains highly positive. As digital technologies continue to evolve, West Africa is expected to play an increasingly important role in the global economy. With Nigeria leading the charge, the region’s $216 billion digital economy represents not just current growth, but a foundation for long-term transformation in commerce, finance, and connectivity.

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E-Commerce Faces Checkout Challenge as 3 Payment Options Drive 30% More Conversions

Checkout has become the most critical battleground in e-commerce, where even small friction points can determine whether a sale is completed or abandoned. New data shows that payment flexibility is now one of the strongest drivers of conversion.

According to research from ACI Worldwide, nearly 70% of online shoppers abandon their carts, contributing to an estimated $4 trillion in lost sales globally. The key issue is no longer pricing or shipping it is the lack of preferred payment options.

Retailers that rethink their payment strategy can significantly improve performance. Offering the right mix of payment methods rather than just one or two can increase conversion rates by up to 30%, highlighting how crucial payment choice has become in modern e-commerce.

E-Commerce Growth Is Now Driven by Flexible Payment Options

The shift is being driven by three key payment categories: digital wallets, account-to-account (A2A) payments, and alternative options such as Buy Now, Pay Later (BNPL). These methods reduce friction and align better with how consumers prefer to shop, especially on mobile devices.

Mobile commerce remains the weakest link in conversion performance despite generating 68% of total traffic. High friction at checkout particularly manual entry of payment details pushes abandonment rates as high as 85% on mobile.

Solutions such as one-click checkout, biometric authentication, and stored payment credentials are helping address this issue. Digital wallets, in particular, allow users to complete purchases instantly without entering card details, significantly improving user experience.

Consumer expectations are also evolving rapidly. In 2024, 61% of shoppers abandoned purchases because their preferred payment method was not available. Despite this, more than one in five e-commerce websites still offer only a single payment option a gap that directly impacts revenue.

Each additional relevant payment method can increase conversions by an average of 7%, meaning that a well-optimized combination of three options can deliver substantial cumulative gains.

Beyond convenience, trust is becoming a decisive factor. Bank-backed solutions like Paze are gaining traction by offering secure, tokenized transactions without requiring app downloads. This addresses growing concerns around security, with 82% of consumers trusting bank-based payment systems more than third-party providers.

For retailers, the message is clear: more payment options do not necessarily mean better outcomes but the right, localized mix does. Successful merchants are increasingly using data-driven strategies to tailor payment methods based on customer behavior, geography, and device usage.

As e-commerce continues to scale, payment infrastructure is also evolving. Cloud-based systems, intelligent routing, and AI-driven authentication are enabling businesses to deliver faster, more seamless checkout experiences while maintaining security and performance.

In this new landscape, payment is no longer just a backend function. It has become a strategic growth lever one that can directly influence conversion rates, customer trust, and long-term revenue.

Source: E-Commerce Times

Ubuy Launches Installment Shopping in Cross-Border E-Commerce with Tabby Partnership

Ubuy, the cross-border e-commerce platform operating in the Gulf region, has started offering the “buy now, pay later” (BNPL) model to users in the United Arab Emirates and Saudi Arabia through a new integration with the payment technology company Tabby. The new payment option has been activated on both the Ubuy UAE and Ubuy Saudi Arabia platforms.

With this integration, users will be able to purchase millions of international products available on the platform with installment payment options. Under the model offered by Tabby, purchases can be split into up to four installments. While no interest or additional fees are applied in three-installment plans, a small transaction fee may apply for four-installment plans. The payment process also moves very quickly; after selecting the Tabby option on the payment page, users can receive instant approval and complete their purchases, while the remaining payments are automatically scheduled by the system.

BNPL Solutions Are Rapidly Expanding

In recent years, BNPL solutions have been rapidly expanding in the Gulf countries. The increasing preference of young and digitally focused consumers for flexible payment options is encouraging e-commerce platforms to invest more in alternative financing models. According to market research, the BNPL market in the Middle East and North Africa is expected to reach a value of billions of dollars in the coming years.

Ubuy Aims to Expand Its User Base in the Gulf Market

Dhari AlAbdulhadi, the founder and CTO of Ubuy, stated that customer experience is at the center of the company’s growth strategy, noting that the Tabby integration increases users’ financial flexibility and makes international shopping more accessible. The company aims to expand its user base in the Gulf market by combining global product access with regional payment solutions.

Operating across categories such as electronics, fashion, beauty, and home & living, Ubuy enables consumers to access products from different parts of the world quickly and easily through its cross-border e-commerce model with its wide product range.