Majid Al Futtaim unveils SHAREPay digital wallet

Majid Al Futtaim has introduced a new payment solution, called SHAREPay.

It is the first-of-its-kind digital wallet in the Mena region, which enables Al Futtaim SHARE members to link up to 10 existing debit or 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 for their goods via their linked card or use their SHARE points by simply tapping on any POS terminals across the company’s ecosystem.

“Our customers are well connected, digitally savvy, crave convenience, and are moving towards a cashless economy by accepting digital forms of payments,” said Kashmira Motiwalla, head of loyalty at Majid Al Futtaim Holding.

It is hoped the new mode of payment will enhance the customer experience.

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.”

Approximately 75 per cent of UAE shoppers reported having used at least one digital payment method in the past year, according to Visa’s 2022 Stay Secure survey.

Meanwhile, almost 60 per cent of UAE shoppers reported using their smartphones at some point during their in-store shopping journeys to enhance their in-store experience, according to The 2022 Global Digital Shopping Index.

“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,” said Ms Motiwalla.