{
  "id": 19158616,
  "title": "Tabby tests business account for SMEs after 1 million sign-ups",
  "url": "https://urgent.news/2026/11/09/tabby-tests-business-account-for-smes-after-1-million-sign-ups",
  "topic": "world",
  "section": "World",
  "published": "2026-11-09T12:56:23.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/business/tabby-tests-business-account-for-smes-after-1-million-sign-ups-1.500741299"
  },
  "original_language": "en",
  "account": "Dubai, September 1, 2023: More than a million UAE residents have opened Tabby Cash accounts since the product launched to all residents on September 1, according to the fintech platform. Hosam Arab, CEO and Co-Founder of Tabby, expressed excitement over the rapid growth, calling it \"the fastest growing product we’ve launched.\" Tabby Cash is a fee-free alternative to a debit account, operating under Tabby’s Stored Value Facilities licence from the Central Bank of the UAE.\n\nCustomers enjoy several benefits with Tabby Cash. There are no setup fees, card fees, or transfer fees for local transactions, and there is no limit on unlimited global transfers to over 50 countries. The platform supports digital wallets such as GCash, JazzCash, and Vodafone Cash. Users can also split bills into 12 monthly payments and pay Zakat or donate to Dubai charities from their balance. Additionally, Tabby Cash can be used for refunds on Tabby Pay Later purchases, which are typically processed within 3 to 10 working days.\n\nTo be eligible, UAE residents aged 18 and above are required to have an Emirates ID. No salary certificate or credit check is necessary, as Tabby Cash is not credit but rather the customer's own money. Existing Tabby Pay Later users can open a Tabby Cash account in the app within minutes. Zarik Nabi, Chief Commercial Officer at Tabby, mentioned that the company may offer higher limits as it gains more insights into customers' spending habits.\n\nThe cost of moving money is a currency conversion margin, although no additional fees are charged. The all-digital model and large customer base help keep the margin low. Tabby generates revenue primarily through card spending, with merchants paying a small interchange fee on each transaction, a portion of which goes to Tabby. The customer, however, pays nothing. Tabby also earns from exchange margins on international transfers and benefits as customers transition to other Tabby products. Customer funds are held separately from Tabby's own funds in dedicated accounts with UAE banks, ensuring the funds are used only for the customer's authorized payments and transfers.",
  "summary": "Dubai: More than 1 million UAE residents have opened a Tabby Cash account since the product was launched to all residents on September 1. The fintech platform announced that it achieved this milestone in just 2 months. Hosam Arab, Chief Executive and Co-Founder, called it “the fastest growing product we’ve launched.” Get updated faster and for FREE: Download the Gulf News app now - simply click…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}