Beam is currently set for expansion in the Middle East and Africa.
Leading retail company Majid Al Futtaim has just announced the acquisition of one UAE’s most popular mobile wallet apps, Beam. The acquisition means that Majid Al Futtaim will now own all of Beam’s IP rights along with its branding and e-wallet services in the region.
As the company is increasing its efforts in transforming most of its businesses to digital, it also means that Beam will soon be the primary digital wallet on all Majid Al Futtaim businesses. Beam’s mobile wallet app works on iOS and Android devices and uses a rewards program to let you earn credit that you can use as a discount on your next purchase on supporting retail outlets.
“Beam’s mission is to become the leading omni-payment platform in the region, by introducing new seamless payment experiences for our customers,” said 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 ensure we are providing customers with experiences they want and need.”
Abi Akl added, “The integration of Beam within our businesses is a landmark moment that will enable us to better serve our customers 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.”
Starting today until January 1st, 2019, new Beam customers will be receiving a 30 percent cash back (up to 50 AED) on their Beam wallets once they used to pay for Majid Al Futtaim locations. This includes Carrefour, Ski Dubai, and VOX Cinemas.