Mobile payments provider Beam expands into new markets

Friday 7 December 2018 14:33 CET | News

Dubai-based mobile payments platform Beam has announced plans to expand into seven new markets in 2019, seeking international growth.

According to the company, it gained around 1 million new users since launching in the UAE in 2012. Thus, Beam plans to expand further towards the Middle East and Europe, starting operations in Belgium, the Netherlands, Luxembourg, Portugal, Ukraine, Azerbaijan, and Uzbekistan during the first six months on 2019. The company already has a foothold in Australia and Sweden.

However, the rush to expand overseas comes after Beam’s UAE operations were acquired by Majid Al Futtaim, one of the largest privately held brick and mortar retail conglomerates in the region.

Beam attempts to differentiate its offering by providing users a hyper-local experience and by offering loyalty rewards, cashback programmes, and incentives within its ecosystem.

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Keywords: BEAM, mobile payments platform, UAE, Middle East, Europe, Australia, Majid Al Futtaim, loyalty rewards, cashback programmes, mobile payments
Countries: World