Dubai-based telecom operator du has formed a partnership with mobile payment solution Beam Wallet and Majid Al Futtaim Ventures to take digital retailing to the next level.
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Beam Wallet, which is used by more than 100,000 users and available in 1,200 retail and dining outlets, will store consumers’ credit card details allowing them to perform retail transactions by scanning the QR code using smart phones.
The app will encrypt and tokenise user payment information making it difficult for hackers to breach data for fraudulent usage.
du executive vice-president of digital business Jawad Shaikh said: "It is an OTT (over-the-top) service and we want all retailers to have it. We are in discussions with some petrol station chains and some other retailers also.
"We will be promoting the service by leveraging our channels and customer reach. It is going to have a huge impact in the market as retailers can track their customers’ behaviour and personalise the offers."
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By GlobalData
