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Contactless Payment

technology-trendz1Shezan Amiji, co-founder and Managing Director, Beam Wallet, tells Wealth Monitor how innovations in m-commerce are shaping consumers’ shopping experience in the UAE

Shoppers in the UAE can now choose from among a number of payment options. The latest being the contactless payment method introduced recently by the UAE-based mobile commerce and rewards platform, Beam Wallet. It is the first company in the MENA region to introduce Bluetooth Low Energy (BLE) Beacon technology, enabling consumers to shop, earn and redeem rewards while enjoying specifically targeted offers and promotions, without cash or cards.

This technology offers retailers immediate engagement with their customers by sending a passive alert to the retailer’s point of sale (POS) system notifying of the customer’s presence in store. The consumer receives a personalised notification through their Beam Wallet app, welcoming them and highlighting dedicated offers and immediate rewards available. Payment transactions are simple and streamlined, and contactless for both parties.

Shezan Amiji, co-founder and Managing Director, talks to Wealth Monitor about mobile commerce in the region and much more…

How Beam Wallet is different from other mobile payment apps?
Beam Wallet’s mobile commerce platform is both unique and innovative – there is nothing available anywhere in the world that enables consumers to shop, earn and redeem rewards, and enjoy exclusive special offers and promotions within a single, easy to use App. As opposed to many mobile payment propositions in the market today, Beam offers a solution that is completely agnostic in terms of smartphone devices, operating systems, financial institutions, telecom operators, or retailers.

Beam Wallet is a home-grown company. Which other countries you’re planning to expand in the near future?
We will be rolling out initially across the GCC and MENA, but we are also looking at countries outside the region, with Sweden and Australia both at advanced stages of planning.

How has been the response of retailers and consumers towards Beam Wallet so far?
With mobile technologies at the centre of today’s consumer’s shopping experience, Beam Wallet came to market with a unique value proposition for retailers and consumers. Offering shoppers convenience, security, and a completely contactless payment solution via their smartphones, Beam Wallet’s unique proposition has already secured over 1,200 retailers and more than 100,000 active users in the UAE alone. Big name retailers include Aeropostale, Aldo, Chili’s, Cold Stone Creamery, Costa Coffee, jones the grocer, Kenneth Cole, Shakespeare and Co., Subway, Tim Horton’s, Tommy Hilfiger and Yo! Sushi, with numbers set to double in the next six month, after recent partnership agreements between Beam Wallet, retail giant Majid Al Futtaim Ventures and telco operator du.
We believe that innovation is led by consumer behaviour, and will continue to work on optimizing our platform, forging strategic partnerships that add value to the Beam Wallet offering, and making the shopping experience even more convenient and relevant for both consumers and retailers.

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