Tabby is expanding its capabilities beyond the flexible payments platform to offer users additional conveniences. In addition to its 'buy now, pay later' service, the company has introduced Tabby Cash.
New Tabby Cash Product
Tabby Cash provides customers with an alternative to a debit card that does not require maintenance fees and offers cashback on money transfers. Opening an account is free, and no fees are charged for the card or the account.
Terms and Offers
Users of the Tabby Cash card can receive 3 percent cashback in certain categories and on all international expenses when using Tabby Plus, or 1 percent without this option. As a starting offer, all cardholders will receive 3 percent until November 1, 2026.
Regulatory Framework and Reach
Tabby Cash is the first product developed under the Stored Value Facilities license issued by the Central Bank of the UAE. This launch is accompanied by a rebranding, as Tabby transitions from flexible payments to managing daily finances.
The company stated in a release that over 150,000 people are already using Tabby Cash, and the full launch is planned in the coming weeks across the UAE. Currently, Tabby is used by over 25 million consumers and 65,000 retailers in Saudi Arabia, the UAE, and Kuwait, processing an annual sales volume exceeding $18 billion.
Key Features and Vision
The account will be available to all UAE residents over 18 years old soon, and residents can join a waiting list to receive notifications. Key features include the ability to open an account for free in minutes without any account or card fees. It also offers 3 percent cashback in selected categories and on international purchases with Tabby Plus, or 1 percent without it, with all participants receiving 3 percent until November 1, 2026, as part of a promotional offer. Additionally, free unlimited local transfers are available, and global transfers will be available shortly.
Hosam Arab, CEO and co-founder of Tabby, stated that they started Tabby because they believed that money should be flexible enough to match human life, not the other way around. He added that their conviction has not changed, but their approach has transformed: 'We are creating a place where people have complete control over their money, with the same clarity and flexibility they are used to from us.'
Tabby positions itself as a fintech company providing millions of people with flexibility in daily spending. Tabby technology is used by over 65,000 global and local brands, including SHEIN, Amazon, Adidas, IKEA, Jarir, Samsung, and noon, to accelerate growth and attract loyal customers. Tabby's headquarters are in Riyadh, and the company serves the markets of Saudi Arabia, the UAE, and Kuwait.
