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Technology

Majid Al Futtaim Launches New Payment Solution SHAREPay

Dubai-based retailer Majid Al Futtaim has added a new payment solution to its SHARE rewards programme.

The SHAREPay loyalty programme enables members to ‘Pay, Earn and Redeem’ points in one tap, using innovative FinTech solutions.

SHAREPay

SHAREPay is the first digital wallet in the MENA region, according to the retailer, and enables members to link up to 10 existing debit/credit cards to a single digital card, allowing for easy collecting of SHARE points across the Majid Al Futtaim portfolio, which includes shopping malls and retail stores.

Customers can now pay via their linked card or use their SHARE points by tapping on any sales terminals.

SHAREPay was recently awarded the most innovative card of the year at the Seamless Awards 2022, the leading awards for the payments, fintech, retail, and e-commerce industry.

Commenting on the launch, Joe Abi Akl, chief corporate development officer at Majid Al Futtaim, said, "We continue to evolve our business ecosystem to ensure that our customers have access to the best end-to-end experience. To do this, we constantly look at ways to add complementary and adjacent services to our core businesses through innovative technologies and solutions. With digital payments on the rise and our customers gravitating towards a cashless economy, the integration of SHAREPay within our business only seems natural."

Kashmira Motiwalla, loyalty head at Majid Al Futtaim, said, "Our customers are well connected, digitally savvy, crave convenience, and are moving towards a cashless economy by accepting digital forms of payments. By launching SHAREPay and investing in FinTech capabilities, we can provide our customers with ease and utility through frictionless payments and integrating value-added services, and alternative finance options.

“In line with our evolving digital agenda and existing initiatives, SHAREPay will provide us with valuable data that will help us develop consistent, predictable experiences across all our businesses and more effectively fulfil our vision of creating great moments for everyone, every day.”

Majid Al Futtaim Digital Solutions

The launch is in line with the retail group's efforts to add new digital elements to its business, such as FinTech, already integrated with its existing business units.

The launch of SHAREPay is in partnership with several key providers including Visa, Network International and i2c Inc.

Madhur Mehra, Visa’s head of merchant sales and acquiring for MENA, said, "SHAREPay provides a unique value proposition bringing the convenient and frictionless customer experience of digital issuance to Majid Al Futtaim’s popular loyalty programme.

"We are delighted to partner with Majid Al Futtaim on the launch of SHAREPay and support their efforts in extending the benefits of secure, seamless digital commerce to their customers and merchant partners."

© 2022 European Supermarket Magazine – your source for the latest technology news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.

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