Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later (BPNL) provider in the Middle East.
The strategic partnership with CBD will provide support to Postpay on several fronts including Transaction Banking, Debt Funding and E-Commerce solutions.
This allows Postpay to focus on growth and support to its customers and merchant partners.
The continued support from CBD will also enable Postpay’s planned expansion in the UAE, KSA, and other GCC countries.
The financing facility helps solidify Postpay’s place as the region’s leading BNPL firm with the most diverse range of brands.
Further, it supports their promise to create a seamless payment journey for consumers and to provide greater financial flexibility both online and in-store across the region.
“This facility provides the necessary fuel to our engine and empowers us to achieve our ambitious goals for the future,” said Tariq Sheikh, Founder and CEO of Postpay.
Bernd van Linder, CEO of Commercial Bank of Dubai, commented, “The partnership with Postpay is in line with our commitment to back our customers’ ambitions.”
