Buy Now, Pay Later (BNPL) firm, Zip Co Limited, has finalized the acquisition of Dubai-headquartered BNPL provider Spotii.
This move is part of Zip’s larger strategic plan to better serve and support the financial well-being of customers and merchants in the Middle East. This deal will also simultaneously serve Spotii’s expansion plans.
Spotii operates a digital payments platform that enables customers to shop and pay later in installments without interest and extra charges. Its service is used by over 700 merchants across the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA).
The Middle East is unarguably one of the fastest-growing eCommerce markets in the world right now, with total online spending value growing by well over 30% annually.
With operations already in 13 countries, Zip’s acquisition of Spotii marks another milestone in the firm’sjourney towards making fairer and more seamless payment an option that is available to all across the globe.
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