Global payment provider Splitit (ASX:SPT)
have entered into a strategic partnership with buy now, pay later (BNPL) provider tabby, which will integrate Splitit's platform through a white-label solution. This will provide shoppers with an additional payment option.
Splitit enables customers to pay for purchases with an existing credit card by splitting the cost into interest- and fee-free monthly payments, without additional registrations or applications.
Tabby is the leading Middle East BNPL provider, servicing the United Arab Emirates and Saudi Arabia, supporting more than 2,000 merchants, including Ikea, SHEIN, Marks and Spencer, Adidas, and Toys R Us.
"This is a great partnership for us at tabby as it allows us to broaden our product offering to existing merchants as well as enter new verticals across the markets we serve,” said tabby founder and CEO Hosam Arab
The integration is expected to be completed by the end of Q3 2021.
Shares in Splitit (ASX:SPT)
are trading 1.7 per cent lower at $0.56.