How would you measure the success of Tabby's "Pay Later" installment option?

Introduction

Measuring the success of Tabby's "Pay Later" installment option requires a comprehensive approach that considers multiple stakeholders and metrics. To effectively evaluate this product success metric problem, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Tabby's "Pay Later" is a fintech solution that allows consumers to split their purchases into interest-free installments. This feature is typically integrated into e-commerce platforms, enabling shoppers to buy now and pay later without incurring additional costs.

Key stakeholders include:

1. Consumers: Seeking flexible payment options and improved purchasing power
2. Merchants: Aiming to increase sales and average order value
3. Tabby: Focused on revenue growth, user acquisition, and risk management
4. Payment processors: Facilitating transactions and managing payment flows

User flow:

1. Shopper selects items and proceeds to checkout
2. "Pay Later" option is presented alongside other payment methods
3. User chooses Tabby and completes a quick approval process
4. Purchase is completed, and installment schedule is set

Tabby's "Pay Later" aligns with the broader fintech trend of democratizing access to credit and enhancing the e-commerce experience. Compared to competitors like Klarna or Afterpay, Tabby focuses specifically on the Middle East market, tailoring its offering to local preferences and regulations.

The product is in the growth stage, rapidly expanding its merchant network and user base while fine-tuning its risk assessment models and user experience.