Majid Al Futtaim launches SHAREPay for loyalty programme members

Majid Al Futtaim has added a new payment solution – SHAREPay – to its SHARE rewards programme, enabling members to ‘Pay, Earn and Redeem’ points in just one tap.

SHAREPay 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.

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.

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 programme. 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, 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.”