Spotii is a Dubai-based company IMAGE SOURCE PROVIDED
Fintech Middle East & Africa Paytech

Bringing A Buy Now And Pay Later Payment Solution to the UAE and Beyond

There are those who enjoy shopping either in-store or online – or a hybrid of both. The current global situation however has unified both experiences in increasing the importance of customer loyalty more. For instance, globally, research has shown deferred payment options do increase the average online buyer’s basket size by 50-70%, boosting conversion rates by 20-40% while decreasing refunds by up to 30%. This reduces the need for merchant discounting and raises customer loyalty. In Dubai, the largest city in the United Arab Emirates (UAE), Spotii is a company launched April this year; they are a payment technology provider.

Spotii is a Dubai-based company
Spotii is a Dubai-based company IMAGE SOURCE PROVIDED


Spotii, despite only launching this year, has had two exciting announcements this month. First, Spotii is now the first Shop Now Pay Later in the region bringing the same deferred payment scheme offline and in the store exclusive to their merchants. Here’s how it works: when heading to one’s favourite stores (if they’re a Spotii merchant), Spotii’s easy payment terms for the purchase can be applied. The customer then pays 25% of the purchase costs and take the goods. Then the customer simply make another 25% payment either every other week or every month, with no hidden costs, fees, or charges. If the store isn’t on Spotii they can get in touch with Spotii and join its network.


Second, their other recent announcement is they also recently announced a ‘No Pay Today,’ where customers make an online purchase and pay nothing for two weeks – spreading the cost over four equal payments in the future. Here’s how it works: A consumer orders something online – from one of the company’s partner merchants. The goods are delivered the customer pays 25% of the purchase cost two weeks after the purchase date, subsequently paying 25% every two weeks after. ‘No Pay Today’ is now available the UAE, with plans to expand the offering across the Gulf Cooperation Council (GCC). The initiative is part of Spotii’s ongoing innovative, disruptive plans to shake up the region’s payment mechanisms and boldly move away from the status quo of high charges, hidden interest and exorbitant penalties.


Anuscha Iqbal is the CEO of Dubai-based Spotii
Dubai-based Spotii’s CEO Anuscha Iqbal IMAGE SOURCE PROVIDED

“We launched in April”, explains CEO of Spotii Anuscha Iqbal, “with the aim of always being a customer-centric company. At this time, as we ease into a different world, it’s the perfect time for us to launch a product which will really help people enjoy what they love today without worrying about excessive fees, charges or penalties.

“In this region, cash has always been king, but we saw that changing, and the pandemic has fast-tracked everyone’s increasing use, and reliance on, card and online payments. Building on this, we want to simplify online purchases.”

In terms of the in store experience, Anuscha Iqbal quotes separately, “We launched our services online, but we are acutely aware that while online purchases have doubled in the region during the pandemic, real-world shopping is a huge part of UAE culture, and we want to ensure we help people out everywhere. We can now help merchants deliver state of the art payment solutions to customers both on- and offline.”

“Many haven’t got the time, or resources required to quickly develop an online presence. Our ‘In store’ offering is a comfortable, convenient way for merchants to offer innovative payment to customers, and a bridge between bricks and mortar and digital,” explains Iqbal.

Other separate recent announcements included WeMENA, the region’s e-commerce marketplace for wholesalers, launched another first-to-market offering with Spotii with spreading the cost of online purchases as well as Daman Investments PSC leading the successful capital raising for Spotii.


  • Executive Economic Development Advisor (Emerging Markets) | Contributor

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