Dubai – Mubasher: Dubai-based mobile payments platform Beam is planning to expand in seven global markets in 2019.
“Now we’ve demonstrated and proven value for both the consumer and for the merchant. It’s about taking to the next level and opening up new markets,” Shezan Amiji, co-founder of Beam, told Arabian Buisness.
Launched in 2012 in the UAE, Beam wallet serves around million users and it plans to expand in Belgium within the coming six months.
Amiji added that the company is also looking to foray into new markets including the Netherlands, Luxembourg, Portugal, Ukraine, Azerbaijan, and Uzbekistan.
Capitalising on a partner network of more than 2,000 stores in the GCC nation, Beam enables retailers to accept mobile payments and engage with customers directly through their smartphones.
The firm currently has a footprint in Sweden in Australia.
“There has not been a strategic direction in terms of this market or that market – these are discussions that people have come to us and said, ‘we’re interested in what you have done and why can’t we work together’,” Amiji told CNBC.
It is worth noting that Majid Al Futtaim, the Middle East operator of French retailer Carrefour, has acquired Beam in the last few weeks including the company’s IP rights, branding, and e-wallet services across the region, representing a significant milestone in the company’s digital transformation.
The step will improve Majid Al Futtaim’s shopping experience, allowing customers to pay by phone while earning cash back on their purchases.
