Starting the New Year, Dubai taxi riders have a reason to smile as they can now split their fares into four equal, interest-free installments. This new, budget-friendly payment option results from a partnership between Dubai Taxi Company (DTC) and the financial services application Tabby.
Confirmed by a Tabby spokesperson to Khaleej Times, this zero-interest payment plan will launch in January 2024. It’s a significant boon for public convenience, mirroring the popular ‘buy now, pay later’ (BNPL) model prevalent in retail shopping.
To access this ‘split-in-4’ payment scheme, customers need to download the Tabby app. The process is simple: pay 25% of the taxi fare upfront and the remainder over the next three months, without any added interest or fees.
Initially, this service will be exclusive to DTC-operated taxis. As Dubai’s largest taxi operator since 1995, holding about 44% market share with approximately 7,000 taxis, DTC’s involvement marks a pioneering step in the UAE’s transport sector for postpaid services.
The payment structure is straightforward: after the initial 25% payment, the remaining fare is divided over three monthly installments. Importantly, Tabby assures there will be no interest or hidden fees, emphasizing a trust-based approach.
For customer convenience, Tabby will send regular reminders for due payments to minimize missed payments. In case of a missed payment, the customer will temporarily lose access to Tabby services until dues are cleared, preventing the accumulation of debt.
The collaboration with Tabby isn’t limited to regular taxi services. DTC also offers VIP limousine, bus services, and last-mile delivery solutions. Mansoor Rahma Al Falasi, CEO of DTC, expressed optimism about the partnership’s potential to transform payment methods for transport services, particularly for extended services like multi-day limousine bookings.
Hosam Arab, CEO and co-founder of Tabby, highlighted the partnership’s role in providing flexible payment options to a wider customer base, enhancing the convenience of Dubai Taxi’s diverse transport services.
Also Read:
Romania and Bulgaria Set for Partial Schengen Integration in 2024
Canadian Expatriate Wins Monthly Prize for 25 Years in UAE Lottery
