What happened?
Tabby has launched Tabby Cash, a fee-free spending account in the UAE that comes with a cashback card and free local money transfers.
Who is affected?
Eligible UAE residents aged 18 and above can access the new service as it rolls out nationwide.
Why does it matter?
The launch marks Tabby’s expansion beyond Buy Now, Pay Later (BNPL) and adds another regulated digital finance option for everyday banking and payments in the UAE.
The UAE’s fintech sector continues to grow with the launch of Tabby Cash, a new spending account designed to make everyday money management simpler for residents. Announced by Tabby, the service offers users a fee-free account, unlimited local transfers and a cashback payment card, marking the company’s biggest move beyond its Buy Now, Pay Later (BNPL) business.
The new product is available under Tabby’s Stored Value Facilities (SVF) licence issued by the Central Bank of the UAE (CBUAE). The licence allows the company to hold customer funds and provide regulated wallet-style financial services, placing it among the growing number of fintech firms expanding into digital banking solutions.
For millions of existing Tabby users, the launch means they can now use the app for much more than splitting purchases into instalments.
What does Tabby Cash offer?
Tabby Cash is designed as an everyday spending account without the fees commonly associated with traditional banking products.
According to the company, users can benefit from:
- No account fees
- No card fees
- Unlimited free local bank transfers
- A cashback payment card
- A virtual IBAN for receiving and sending money
- A virtual payment card for digital purchases
- International money transfers, which will be introduced in a future update
Eligible users must be at least 18 years old, have a valid Emirates ID and a UAE mobile number to open an account.
The company says more than 150,000 customers are already using Tabby Cash, with the service expected to become available to more eligible residents in phases over the coming weeks.
A major step beyond Buy Now, Pay Later
Tabby has become one of the region’s best-known fintech companies through its BNPL service, allowing customers to split purchases into interest-free instalments.
The introduction of Tabby Cash signals a significant shift in the company’s strategy. Instead of focusing only on financing purchases, Tabby is positioning itself as a broader financial platform where customers can spend, transfer and manage their money in one place.
The company has also introduced a refreshed brand identity alongside the launch, reflecting its ambition to become a complete money management app rather than solely a checkout payment option.
Today, Tabby serves millions of customers across the GCC and partners with more than 65,000 retailers and brands, including major names in fashion, electronics, home furnishings and online shopping.
Cashback and future international transfers
One of the biggest attractions of Tabby Cash is its cashback programme.
Customers can earn cashback on eligible spending through the Tabby card. As part of the launch campaign, Tabby is offering 3% cashback on qualifying purchases until 1 November 2026. After that, cashback rates will depend on the user’s selected plan.
The company has also confirmed that international money transfers are on its product roadmap. Once introduced, users will be able to send money abroad directly through the app, making the platform even more useful for UAE residents who regularly transfer funds overseas.
With remittances playing a major role in the UAE’s economy, this upcoming feature could make Tabby Cash an attractive option for many expatriates.
How this launch strengthens the UAE’s fintech sector?
The launch reflects the UAE’s continued focus on becoming a global hub for financial technology and digital payments.
The Central Bank of the UAE has introduced several regulatory frameworks in recent years to encourage innovation while ensuring customer protection. The Stored Value Facilities licence is one such framework, allowing licensed companies to provide digital wallet and stored-value services under regulatory oversight.
As more consumers move towards cashless payments, digital wallets and app-based banking, competition among fintech firms is expected to increase. New products like Tabby Cash give residents more choice when managing their everyday finances while encouraging innovation across the financial services industry.
The launch also highlights how fintech companies are evolving beyond niche products into broader financial ecosystems that combine payments, spending and money management in a single app.
What’s next for Tabby?
The UAE launch is part of Tabby’s wider regional expansion.
Earlier this year, the company strengthened its presence in Saudi Arabia after securing consumer finance and SME finance licences from the Saudi Central Bank (SAMA), following its acquisition of Saudi digital wallet Tweeq.
With regulatory approvals now in place across key GCC markets, Tabby appears focused on building a wider financial services ecosystem beyond instalment payments.
As new features such as international transfers are introduced and the customer rollout continues, Tabby Cash could become an increasingly important part of how residents manage their daily finances.
FAQs
Who can open a Tabby Cash account in the UAE?
Eligible UAE residents aged 18 and above with a valid Emirates ID and UAE mobile number can open an account as the service becomes available.
Does Tabby Cash charge account or card fees?
No. According to Tabby, there are no account fees or card fees for users.
Can users transfer money through Tabby Cash?
Yes. The service allows unlimited free local transfers, while international transfers are expected to be added in a future update.
Is Tabby Cash regulated?
Yes. The product operates under Tabby’s Stored Value Facilities licence issued by the Central Bank of the UAE.
Does Tabby Cash offer cashback?
Yes. Users can earn cashback through the Tabby payment card, with a promotional 3% cashback offer available on eligible spending until 1 November 2026.
Tabby’s launch of Tabby Cash marks an important milestone for the UAE’s growing fintech industry. By combining fee-free spending, cashback rewards, and money transfers on a single regulated platform, the company is moving beyond Buy Now, Pay Later to become a more complete financial services provider. As digital payments continue to grow across the UAE, residents can expect more innovation and greater choice in managing their everyday finances.
Follow Social Kandura for more updates on local news and things to do in Dubai and across the UAE.
Read More
