Dubai – Mubasher: The Dubai-based mall operator Majid Al Futtaim has acquired Beam Portal, the owner of the UAE mobile wallet app, Beam, according to a press release on Wednesday.
This takeover transaction grants Majid Al Futtaim ownership of Beam’s IP rights, branding, and e-wallet services across the Middle East region.
Beam mobile app enables retailers to accept payments through mobile and engage with customers directly via smartphones.
Beam app was recently launched in Majid Al Futtaim fashion and home retail stores across the UAE and will be expanded across all Majid Al Futtaim retail stores in 2019.
Furthermore, Majid Al Futtaim will expand Beam’s offering across the region and will open it out to other retail businesses.
Starting from 1 January 2019, new Beam customers paying for the first time through the app will get a 30% cashback or up to AED 50 in their Beam wallet at Majid Al Futtaim owned locations, including its fashion and home stores, Carrefour, Vox Cinemas, Ski Dubai, and Magic Planet.
