Majid Al Futtaim acquires Beam


November 22, 2018 | By RetailME Bureau

UAE-based shopping mall, communities, retail and leisure developer Majid Al Futtaim has acquired mobile wallet app, Beam. The acquisition allows Majid Al Futtaim ownership of Beam’s IP rights, branding and e-wallet services. It represents a significant milestone in the company’s digital transformation.

Set to become the digital payment wallet across all Majid Al Futtaim businesses, Beam enables the retailers to accept mobile payments. It also enables them to engage with customers directly through their smartphones. The payment and rewards platform already has a partner network of more than 2,000 stores in the UAE alone. It will enhance Majid Al Futtaim’s shopping experience, allowing customers to pay by phone.

“Beam’s mission is to become the leading omni-payment platform in the region. We aim to achieve this by introducing new seamless payment experiences for our customers,” says Joe Abi Akl, acting chief corporate development officer at Majid Al Futtaim. As the line between the physical and digital worlds continues to fade, we are investing in our digital transformation to enhance customer experience.”

“The integration of Beam within our businesses is a landmark moment. It will enable us to serve our customers better and gain a better understanding of their preferences through multiple touchpoints. We look forward to harnessing the power of Beam’s technology to help us replicate our physical prominence in the digital world,” adds Akl.

As part of the acquisition, Majid Al Futtaim will expand Beam’s offering across the region, enabling other retail businesses to benefit from its payment services. Also, Beam recently launched in Majid Al Futtaim fashion and home retail stores in the UAE. It will be expanded across all Majid Al Futtaim retail stores in 2019. The platform will enable various innovative solutions that will offer a seamless customer journey across Majid Al Futtaim destinations.

 

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau
Lulu Hypermarket to open in The Dubai Mall in 2023

Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in 

Continue Reading

November 10, 2022 | By Rupkatha B
Beyond Meat’s Q3 2022 results “disappointing”

Plant-based meat brand Beyond Meat’s financial results for the third quarter of 

Continue Reading

November 10, 2022 | By RetailME Bureau
Barakat unveils new biodegradable packaging

UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire 

Continue Reading

October 27, 2022 | By RetailME Bureau
Pure Harvest CEO Sky Kurtz

UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of 

Continue Reading

October 27, 2022 | By RetailME Bureau
Carrefour signed up as anchor tenant for Midtown Project

Carrefour, owned and operated by Majid Al Futtaim – Retail in the 

Continue Reading

October 27, 2022 | By RetailME Bureau
Grandiose Supermarket announces country-wide expansion plans

Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in 

Continue Reading

October 26, 2022 | By Rupkatha B
100 years of Valrhona

The Valrhona journey began 100 years ago with a cocoa bean. Since 

Continue Reading

October 24, 2022 | By Justina Eitzinger
On-demand grocery delivery in 15 mins

Deliveroo UAE has announced the expansion of its rapid grocery delivery service 

Continue Reading

October 24, 2022 | By RetailME Bureau
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment

The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE 

Continue Reading

October 17, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis 

Continue Reading

October 13, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine