Majid Al Futtaim launches SHAREPay to add to its popular SHARE rewards programme
Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has added a new payment solution – SHAREPay – to its popular SHARE rewards programme. The region’s leading loyalty programme enables members to ‘Pay, Earn and Redeem’ points in just one tap, using innovative FinTech solutions to enhance customer experience.
SHAREPay, the first of its kind digital wallet in the MENA region, enables SHARE members to link up to 10 existing debit / credit cards to a single digital card allowing for seamless instant earning and burning of SHARE points across the Majid Al Futtaim ecosystem. Customers can now pay via their linked card or use their SHARE points by simply tapping on any POS terminals across Majid Al Futtaim’s ecosystem, making the experience smooth, familiar, and seamless.
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 Holding, 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 Holding, 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.”
The launch of SHAREPay is in partnership with several key providers including Visa, Network International and i2c Inc. who have been instrumental in crafting this innovative solution and bringing SHAREPay to life.
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 program. 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.”
The launch is in line with the company’s efforts to diversify its business into new digital verticals, such as FinTech, already integrated with its existing business units. As a result, Majid Al Futtaim will soon expand its FinTech Solutions to its external ecosystem, a platform designed to enable the FinTech community to thrive through the company’s distribution and scale and its partners with proven products and services and differentiation through internal and external data and fintech offerings.
Amir Wain, Founder and CEO of i2c Inc., said, “We are thrilled to expand our partnership with Majid Al Futtaim, as they push the boundaries on what the retail experience can and should be for today’s consumers. Our next-generation processing technology was designed to help visionaries like Majid Al Futtaim go to market with differentiated products like SHAREPay, and we’re proud to do so with unmatched reliability to ensure a seamless experience for their customers.”
SHAREPay’s friction-free capability is now available on iOS, where collected points can be redeemed against all Majid Al Futtaim brands and tenants and at 17 shopping malls in the UAE. This includes Mall of the Emirates, City Centres Shopping Malls, restaurants and stores and more. To start enjoying the benefits, customers simply need to download the ‘SHARE’ app available Apple Store.