Tabby rolls out UAE cash card with cashback and no transfer fees

Tabby has introduced Tabby Cash, a no-fee money account and cashback card for users in the UAE, with more than 150,000 people already using the product, the company said. The launch extends the Saudi-founded fintech from buy-now-pay-later and flexible payments into day-to-day money management, a shift that could broaden its role in consumer financial services across the Gulf.

The company said Tabby Cash is free to open and carries no account or card charges. Users can make unlimited local transfers at no cost, while international transfers are planned, according to Tabby. The product will be made available to all UAE residents aged over 18 in the coming weeks, and residents can join a waitlist to be notified.

Tabby said the product is the first built under its Stored Value Facilities licence from the Central Bank of the UAE. In practice, the product is designed to let customers hold, send and spend money through the Tabby app and card, adding a transaction account-style service to a platform already used for flexible payments.

The Tabby Cash Card offers cashback at two rates. Customers with Tabby Plus receive 3% cashback on selected spending categories and on all international spending, while customers without Tabby Plus receive 1%, the company said. As an introductory promotion, all cardholders will receive 3% cashback until 1 November 2026.

Tabby said the launch coincides with a refreshed brand identity as the company expands beyond instalment payments. The firm said more than 25 million consumers and 65,000 retailers in Saudi Arabia, the UAE and Kuwait use its services. It also said it processes more than $18 billion in annualised sales volume.

The company has built its business around flexible payments that it says do not charge interest or fees. Tabby said it is applying that model to money management, arguing that conventional consumer finance products in the UAE can involve high costs. According to the company, UAE credit cards can carry annual interest rates of 30% to 46%, with interest compounding on unpaid balances. It also cited minimum salary requirements and balance-related charges on current accounts, as well as overseas money-transfer costs that can reach AED 75 or more before exchange-rate markups.

Tabby said its branchless, digital operating model allows it to charge lower fees. The company previously introduced Tabby Card for everyday spending with flexible payment features and no compound interest, and described Tabby Cash as the next stage in adding tools for holding and moving money.

Hosam Arab, Tabby’s chief executive and co-founder, said the company was founded on the idea that money should fit around customers’ lives. He said Tabby is building a service where users have greater control over their money, with the clarity and flexibility associated with its existing products.

This story draws on original reporting from Finextra Research.