YOUGotaGift enables buy now pay later (BNPL) financing for UAE and KSA shoppers of its mobile app through the company’s newfound partnership with Tabby.
Consumers of the gift card marketplace will now be able to spread the cost of their in-app purchases through the interest-free alternative financing options of its latest partner.
Although the capability currently exists within YOUGotaGift’s mobile app, the same functionality is yet to be implemented on the company’s adjoining website.
When paying at YOUGotaGift through Tabby, customers will access a transparent payment schedule prior to making their first payment.
After completing their purchases through Tabby, the app’s customers will receive an email with the payment schedule accompanied by reminders of upcoming payments.
News of the integration comes at a pivotal moment for alternative financing in the Middle East.
According to Checkout.com‘s latest study, which was published this month, 39 per cent of the region’s consumers have used a BNPL option in 2022, up from 24 per cent the year previous.
The same study forecasts that this figure will rise to 67 per cent next year.
Likewise, The Fintech Times‘ own study into the region’s BNPL landscape indicated a similar positive trajectory for the payment service.
Discussing MENA’s increasing adoption of the alternative payment service, YOUGotaGift’s CEO, Husain Makiya, explains that beyond gifting, “customers are increasingly utilising e-gift cards for the purposes of budgeting or accessing offers.”
In light of worldwide inflation and the ongoing cost of living crisis, BNPL-accessible e-gift cards could provide a useful avenue for consumers to mitigate their own costs while accessing the goods and services they require.
“By combining flexible payment options with our multi-brand e-gift cards,” continues Makiya, “customers will be more engaged to purchase for themselves and unlock tactical offers from their favourite brands.”
Under the jovial motto ‘simply happy’, YOUGotaGift recently refreshed core elements of its visual identity to ‘be more flexible and representative of its business lines’.
The unveiling of its new identity is hoped to assist the company’s transition from an e-gift card marketplace to a provider of business solutions for incentives and commerce.
Hosam Arab, CEO of Tabby, added: “Along with the depth and breadth of YOUGotaGift’s digital gift card options, the added benefit of convenient and flexible payments through Tabby will now enable more consumers to find the right products and amazing deals without any added financial hassle.”