Starting this January, Dubai Taxi riders can now split their fare into four interest-free installments using the Tabby financial services app. Here’s a breakdown of what this means for the public:
Flexible Payment Solution: Buy Now, Pay Later for Taxi Rides
- Tabby, known for its ‘Buy Now, Pay Later’ (BNPL) services, introduces a similar concept for Dubai Taxi Company (DTC) rides.
- Riders can download the app and opt for the ‘split-in-4-monthly payment’ plan, paying only 25% upfront and the rest in three equal installments over three months.
- Tabby ensures a payment scheme without interest or additional fees, emphasizing trust-based transactions without extra charges when payments are made on time.
DTC’s Exclusive Collaboration with Tabby:
- Initially, this staggered payment option is exclusively available for DTC taxis, representing 44% of Dubai’s taxi market with a fleet of approximately 7,000 taxis.
- DTC, renowned for various transportation services, including VIP limousines and last-mile deliveries, aims to redefine payment methods for its diversified services.
Payment Process and Responsiveness:
- Regular reminders before due payments aim to prevent missed installments, and Tabby commits to responsible spending, restricting service use if dues remain unpaid.
- Any missed payments prompt temporary suspension of Tabby’s services until the outstanding amount is settled, preventing the accumulation of arrears.
CEO Statements Highlighting Advantages:
- Mansoor Rahma Al Falasi, CEO of DTC, anticipates a transformation in customer payment habits, particularly for services like multi-day limousine bookings.
- Hosam Arab, CEO and co-founder of Tabby emphasizes extending flexible payment options to a broader customer base, enhancing financial optimization while enjoying Dubai’s transport services.
The collaboration between DTC and Tabby heralds a significant shift in payment methods for taxi services, providing riders with greater financial flexibility and convenient payment options.
