Tabby has launched Tabby Cash, a fee-free spending account offering cashback and free transfers, as the company expands its offering beyond buy now, pay later (BNPL) into broader money management services.
Rollout and licensing
Tabby said more than 150,000 people are already using Tabby Cash, with a full rollout planned across the UAE in the coming weeks. The launch coincides with a new brand identity as the company positions itself as a broader money management platform. Tabby Cash is the company's first product built on its Stored Value Facilities licence, granted by the Central Bank of the UAE, and the account carries no setup, account, or card fees.
Product features and cashback structure
The Tabby Cash Card offers cashback of up to 3% on selected spending categories and international transactions for Tabby Plus members, while non-Plus users receive 1% cashback. As part of a launch offer, all cardholders will receive 3% cashback until 1 November 2026. The account also includes free unlimited local transfers, with global transfers planned for a future release. Tabby Cash will initially be available to UAE residents aged 18 and over, with a waitlist open ahead of the wider rollout.
Positioning against traditional financial products
Tabby, which built its business around BNPL and flexible payment solutions, said it is applying a similar approach to everyday financial services, citing the costs associated with traditional banking products in the UAE. According to the company, credit cards in the market can carry annual interest rates between 30% and 46%, with interest compounding on unpaid balances. Tabby also said current accounts can require minimum salary thresholds and charge fees when balances fall below certain levels, while international money transfers can cost AED 75 or more before exchange-rate markups are applied.
Tabby said its digital-only model, without physical branches or legacy banking systems, allows it to offer lower fees and greater flexibility compared with traditional providers.
Company commentary
A company official said Tabby was founded on the belief that money should be flexible enough to fit around a person's life, and that Tabby Cash extends that approach to how people hold, send, and spend money, building on an existing user base already engaged with the company's other products.
Scale and market position
According to the company, Tabby currently serves more than 25 million consumers and works with more than 65,000 retailers across Saudi Arabia, the UAE, and Kuwait, including SHEIN, Amazon, Adidas, IKEA, Jarir, Samsung, and noon. Tabby said it processes more than USD 18 billion in annualised sales volume. The company is headquartered in Riyadh.
Broader implications
The launch reflects a wider trend among BNPL providers seeking to diversify into broader financial services, including spending accounts, cashback products, and money transfers, as companies look to deepen engagement with existing users and compete more directly with traditional banking products across markets in the Gulf region.
