Consumers in the UAE are saying goodbye to cash or credit and hello to a smarter way to shop with help from an innovative new app. Based out of Dubai, Beam Wallet aims to revolutionize retail shopping with its secure mobile payment system compatible with all smart phone devices. Currently active at 1,120 retail outlets across the UAE, this ambitious young company plans to provide service to 5,000 stores by the end of 2015 while expanding across the MENA region and eventually into Australia and Europe.
Beam Wallet offers more than just a digital payment option to it’s current base of over 100,000 registered users. Unlike it’s competitors, this UAE-grown company provides a platform that simplifies the shopping experience by enabling consumers to shop, earn and redeem rewards simultaneously, while keeping track of expenses. What’s more, recently introduced Bluetooth Low Energy (BLE) Beacons make paying and redeeming with Beam completely contactless. With the Beam Business Portal, retailers can create their own targeted offers and discounts delivered directly to users via the App.
Co-founder Nadim Khoury started Beam Wallet in 2012 alongside friends and fellow tech enthusiasts Shezan Amiji and Serdar Nurmammedov. Born in the UK and raised between London and Dubai, Khoury chose to establish his company in the UAE because of “its well developed retail market, the region’s high smartphone penetration rates, mobile commerce development and … a population who love to shop.” Khoury views the Middle East and North Africa as a fast developing region with a lot to offer, and “the potential to foster and even export innovation, [thanks to] its young, connected, tech-savvy population.”
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