FOO partners with Majid Al Futtaim to transform customer experience

FOO, an award-winning fintech solutions provider, has partnered with XSIGHT Future Solutions, Majid Al Futtaim’s (MAF) newly formed digital arm, to provide an embedded wallet experience for MAF’s retailers.


Carrefour, owned and operated by MAF in the UAE, is the first retailer to adopt this technology and has already launched the solution in the UAE, KSA and Egypt, with many more countries to follow. FOO has expedited Carrefour’s current refund process by integrating its closed-loop mobile wallet and stored value account (SVA) solution into Carrefour’s existing mobile app, enabling customers to receive instant refunds to their personal accounts.


The collaboration with FOO will streamline the hypermarket chain’s refund procedure and provide a more seamless shopping experience for its customers. The embedded wallet solution is just the beginning of a long-term partnership between FOO and XSIGHT Future Solutions, laying the groundwork for additional fintech capabilities that will soon be implemented.


Closed-loop solution

The agile and efficient closed-loop solution offers several benefits for both MAF and the end user. For instance, the credit received from the refund can be used immediately against purchases from any of its merchants, helping to drive customer retention. Moreover, retaining a significant portion of revenue within the MAF ecosystem contributes to the company's further growth and success.


Hussam Kayyal, Chief Revenue Officer at FOO, commented: “There’s no doubt that customer satisfaction is the number one priority for all businesses. Embedded finance can significantly enhance 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.”


By leveraging an in-house design and development approach, FOO crafts solutions using a modular platform built on microservices. This unique 'plug and play' model enables the delivery of super-personalised solutions with exceptional time to market. FOO’s products and services offer an unparalleled level of flexibility and scalability, aligning perfectly with MAF's plans to implement the same solution across all its retailers and markets.


Optimising operations

Joe Abi Akl, Chief Corporate Development Officer at MAF Holding and Managing Director of XSIGHT Future Solutions, added: “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.”-- TradeArabia News Service





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