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Tabby has launched Tabby Cash, a fee-free spending account offering cashback and free transfers, marking the company's expansion beyond flexible payments into everyday money management. More than 150,000 people are already using the product, with a full rollout across the UAE expected in the coming weeks.
Tabby Cash is the first product built on the Stored Value Facilities licence Tabby secured from the Central Bank of the UAE in April, which allows the company to hold customer funds, and lands within the timeline Tabby set at the time, when it said the first products on the licence would go live within the year.
The account carries no setup, account or card fees, with the Tabby Cash Card offering 3% cashback on selected categories and international spending for Tabby Plus subscribers and 1% for other users, all cardholders earning 3% until November 1 as a launch offer, and free unlimited local transfers, with global transfers planned.
The launch coincides with a new brand identity built around money management rather than instalments. "We're building a place where people have full control over their money," said co-founder and CEO Hosam Arab.
Tabby's pitch leans on the cost of incumbent products, citing UAE credit card interest rates of 30% to 46% compounding on unpaid balances, current accounts with minimum-salary requirements and balance-threshold fees, and international transfers costing AED 75 or more before exchange-rate markups.
The product completes a picture that has been assembling all year across Tabby's two core markets.
In Saudi Arabia, its largest market, the company secured consumer and SME finance licences from SAMA last month, pushing it deeper into lending with instalment plans of up to SAR 50,000 and working capital for merchants. In the UAE, the wallet licence and now Tabby Cash build the deposits-and-spending side, credit in the Kingdom, banking-adjacent services in the Emirates, the two halves of the push to become a full financial-services platform.
The diversification carries weight ahead of a widely expected Tadawul listing. Tabby is MENA's most valuable fintech at $4.5 billion, a mark set in a secondary share sale backed by HSG and Boyu Capital in October 2025, and now reports more than $18 billion in annualised sales volume across 25 million registered users and 65,000 retailers in Saudi Arabia, the UAE and Kuwait, up from the $10 billion-plus run rate it reported at the start of the year.
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