In an economy where speed is measured by the number of clicks on a phone, the purchasing decision is no longer delayed as it was in the past; rather, it has become an instantaneous moment driven by data and financial intelligence. In cities like Riyadh, Jeddah, and Dammam, where every transaction turns into a data point within an accelerating economic system, the “Buy Now, Pay Later” (BNPL) model has emerged as one of the most prominent drivers of transformation in the Saudi economy in recent years.
However, the most important figure here is not related to the number of users or the spread of the service, but to the economic value it has created. According to 2025 data, Tabby and Tamara achieved combined revenues of approximately 2.76 billion riyals, with growth exceeding 260% and net profits approaching 400 million riyals. This performance does not only reflect the success of two startups, but rather points to a profound reshaping of consumption behavior, the financing structure, and the acceleration of the transition toward a non-oil economy within the framework of Vision 2030.
What is happening with Tabby and Tamara transcends the concept of traditional “payment solutions.” We are facing a structural shift that makes these companies a new financial layer within the digital economy, connecting the consumer and the merchant more flexibly. They do not merely facilitate payment; they provide immediate liquidity to merchants and grant consumers a greater ability to manage spending, which completely reshapes market dynamics.
The numbers clearly reflect this transformation. Tabby recorded revenues of 1.416 billion riyals in 2025 compared to 1 billion riyals in 2024, with net profits rising to 206 million riyals, a growth exceeding 82%. On the other hand, Tamara achieved revenues of 1.348 billion riyals compared to 708 million riyals in the previous year, moving from a loss of 130 million riyals to profits reaching 193 million riyals. This shift from loss to profitability reflects the maturity of the economic model for the entire sector.
At the same time, partnerships have expanded significantly, as the number of merchants linked to these platforms exceeded 121,000, with a 49% growth in BNPL transaction volume during the 2024–2025 period. Furthermore, this model has come to represent more than 20% of total e-commerce transactions and dominated nearly 58% of certain digital channels, reflecting the depth of its penetration into consumer behavior.
This impact was not limited to increasing market size only; it extended to directly improving commercial performance indicators. BNPL contributed to raising the average order value by between 30% and 50%, and reducing the shopping cart abandonment rate, which used to reach 70%, in addition to raising conversion rates by between 20% and 30%. It also enhanced customer loyalty by up to 40%, especially with its integration into major platforms such as Noon, Amazon Saudi Arabia, Jarir, and Shein.
This rapid growth would not have happened without a supportive regulatory environment led by the Saudi Central Bank, which provided an advanced supervisory and legislative framework that boosted investor confidence and protected consumers, making the Kingdom one of the fastest-growing fintech markets in the world.
Investment leader Samer Choucair believes that what is happening goes beyond being an evolution in payment methods, reaching the level of reshaping the financial structure of the economy. He says: “BNPL is no longer just a consumer service; it has become part of the new financial infrastructure. Those who understand this transformation do not just invest in a company, but in the coming consumer behavior.” He adds that Vision 2030 has created an ideal environment that combines innovation and regulation, which makes the Saudi market a global model in the balance between growth and stability.
As we enter 2026, this sector is moving toward further integration, as BNPL gradually transforms into an integrated digital financing system, including digital wallets, credit services, and deeper integration with e-commerce platforms. Growth opportunities are also widening through regional expansion in the Gulf and the Middle East, with increasing demand for Sharia-compliant financial solutions.
Conversely, challenges appear regarding credit quality, the entry of traditional banks into the competition, and consumer protection requirements; however, the strong regulatory framework gives the market an important balance between innovation and stability.
In the end, the BNPL story does not just represent the success of a new financial sector, but rather reflects a broader transformation in the Saudi economy: from cash to digital, from traditional to smart, and from local to global. As Samer Choucair summarizes this transformation: “Those who understand this moment and invest in it early are not just keeping pace with the future, but they own it.”