The buy-now-pay-later company said it already has Namshi, SHEIN and Swarovski on board and hopes to sign up hundreds more merchants in the coming months.
Tamara, a Saudi-based ‘buy now pay later’ (BNPL) platform, is set to expand its operations into the UAE. Customers across the UAE will be able to split their payments interest-free at leading retailers including Namshi, SHEIN, Styli, Fitness Time, Faces and Swarovski, the company said. The start-up said it hoped to sign up with hundreds more merchants in the coming months for its services.
Abdulmajeed Alsukhan, CEO and Co-Founder of Tamara, said: “Given the strong market potential and current growth rates, we anticipate signing up 1,000 merchants here by the end of the year,” he added, saying that Dubai is the natural second home for Tamara.
Tamara’s move to enter the UAE market follows new research by Checkout.com – the lead investor in the startup’s $110M Series A funding round – which revealed that UAE consumers are among those most likely to use BNPL this year.
The survey showed that 31 per cent of UAE residents were planning to use the technology in the coming 12 months. The UAE was followed by Saudi Arabia at 27 per cent, Kuwait at 26 per cent and Bahrain at 18 per cent for use of the BNPL model, the company said.
