Majid Al Futtaim joins forces with FOO to transform customer experience

XSIGHT Future Solutions, a digital arm of UAE-based shopping mall developer Majid Al Futtaim, has partnered with fintech solution provider FOO to provide an embedded wallet experience for its retailers.

Carrefour, owned and operated by Majid Al Futtaim in the UAE, is the first retailer to adopt this technology and has already launched the solution in the UAE, Saudi Arabia and Egypt, with more countries to follow. 

Chief revenue officer at FOO, Hussam Kayyal, said: “There’s no doubt that customer satisfaction is the number one priority for all businesses. 

“Embedded finance can significantly enhance the consumer experience by eliminating traditional pain points. Integrating a closed-loop mobile wallet into the various MAF consumer apps improves ease of service, therefore enhancing customer satisfaction and brand loyalty.”

FOO has expedited Carrefour’s current refund process by integrating its closed-loop mobile wallet and stored value account solution into Carrefour’s existing mobile app, enabling customers to receive instant refunds to their personal accounts.

The aim of this collaboration is to streamline the hypermarket chain’s refund procedure and provide a more seamless shopping experience for its customers. 

Chief corporate development officer at Majid Al Futtaim and holding and managing director of XSIGHT Future Solutions, Joe Abi Akl, said: “By leveraging FOO’s advanced capabilities, we can enhance our existing digital infrastructure and optimise our operations to meet the evolving needs of our customers. 

“We are confident that this strategic partnership will enable us to set new industry standards and redefine the future of retail.”

The embedded wallet solution is seen as the first step of the expected long-term partnership between FOO and XSIGHT Future Solutions.

In recent month, Carrefour UAE’s stores have accelerate the adoption of advanced technologies. For example, in February, the retailer installed the Face Pay face verification platform for payments in its Deira and Amsaf stores.

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