Beam Wallet, the revolutionary, world-class mobile commerce and rewards platform, is the first company in the MENA region to introduce Bluetooth Low Energy (BLE) Beacon technology, enabling consumers to shop, earn and redeem rewards while enjoying specifically targeted offers and promotions, without cash or cards. Turning smartphones into digital wallets and halving transaction times, Beam Wallet is changing the rules of customer engagement and radically transforming the way people shop.
BLE is a wireless personal area network technology designed and marketed by the Bluetooth Special Interest Group aimed at novel applications in the healthcare, fitness, beacons, security, and home entertainment industries. Compared to Classic Bluetooth, Bluetooth Smart is intended to provide considerably reduced power consumption and cost while maintaining a similar communication range.
The rollout of the Beam Wallet contactless experience begins in the UAE, with more than 1,100 retail outlets now operating Beam Beacons at checkout. Fitted with the latest BLE technology, iBeeks Beacons supplied by BluVision offer immediate engagement with the more than 100,000 customers already registered with Beam Wallet, by sending a passive alert to the retailer’s point of sale (POS) system notifying of the customer’s presence in store. The consumer receives a personalised notification through their Beam Wallet app, welcoming them and highlighting dedicated offers and immediate rewards available.
Payment transactions are simple and streamlined, and contactless for both parties. Cashier input is limited to entering the amount due into their POS system, while the customer uses their 3G phone to enter their personal security number and confirm payment by Beam Wallet. Customer and retailer both receive notifications of transaction status and a digital receipt is automatically generated. Transaction is complete.
In a mobile-centric world where innovation is key, the integration between BLE-capable Beam Beacons and the Beam Wallet platform offers savvy businesses a strong advantage. For the first time ever, retailers have the opportunity to communicate with customers on a personal one to one and immediate basis.
The app recently attracted investment from Majid Al Futtaim Ventures.
The mobile commerce platform works with a proprietary CRM platform and an advanced analytics structure to provide business partners with valuable insights into in-store customer behaviour and preferences, from the frequency of visits, to purchasing conversions according to offers, footfall in specific areas of the store, social media sharing of information, and even duration of visit. This allows for a range of highly targeted and contextually based offers, rewards and digital content that can be shared directly with the consumer via the Beam Wallet app, to make shopping more rewarding, and lead to an increase in spending behaviour and customer loyalty.
Particularly attractive to retail segments that place importance on speed and convenience of payment, such as fast food restaurants, gas stations and convenience stores, contactless payment can bring significant increases in revenue with very modest investment. Implemented quickly and easily and compatible with all POS platforms, the contactless payment experience reduces cash handling, improves payment terminal reliability and offers a streamlined payment process significantly increasing revenues.