Beam Wallet, a mobile commerce and rewards platform
developed and launched in the UAE in 2012 – has announced a landmark investment
from Majid Al Futtaim Ventures.
The partnership marks a first-time entry into the fast
growing tech industry for Majid Al Futtaim Ventures.
Beam Wallet’s smart mobile phone application targets
consumers in the UAE, with more than 100,000 users and over 1,100 retail
outlets using the mobile commerce platform.
Enabling Beam Wallet to scale operations locally, regionally
and internationally, the investment also gives Majid Al Futtaim Ventures an
equity stake in the platform. Majid Al Futtaim’s core business is in
shopping malls, retail and leisure.
Beam Wallet’s mobile platform gives businesses an additional
marketing channel and the capacity to reward customers directly. Consumers
can make secure payments, accrue benefits, offers and rewards, while also
keeping track of their budgets.
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