Digital wallet providers are offering value to consumers through rewards

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Globally, advancements in emerging technologies such as artificial intelligence, machine learning, and big data have allowed fintech firms to transform payment methods digitally. The improvements in technology have helped firms be significantly innovative with their offerings, allowing them to provide more value to their users. These improvements have helped FinTech firms to launch innovative loyalty programs such as Blue Rewards.  

Blue Rewards, the data-driven loyalty program offered by Al-Futtaim Retail Group through Blue e-Wallet in collaboration with the ENTERTAINER business, a leading loyalty solution provider. The program provides money-saving benefits to its users in the Middle East region. The rewards program brings together all money-saving benefits under one loyalty program and offers an intuitive shopping experience for users in the region. 

The Blue Rewards program has no joining fee, and members are eligible to earn rewards in the form of cashback on every purchase. Moreover, members also get exclusive and personalized deals across the Al Futtaim brand and its partners in the GCC and Egypt region. Notably, the wallet-to-wallet transfer on the Blue e-wallet is available for both Blue rewards members and non-members. The members are able to transfer money by simply entering the mobile number of the recipient. Consequently, making it a secure way of loading credit either to pay for purchases or gifting credit to friends and families in the United Arab Emirates. 

Currently, the wallet-to-wallet transfer feature is only available for users in the United Arab Emirates, as the feature is locked in AED. However, the firm is developing its product to offer the same wallet-to-wallet transfer feature in other Al Futtaim markets.  Moreover, the company has integrated two games into the product to strengthen its user engagement. These games help users to win rewards and extra cashback. The two games that are being offered include Blue Coin Rush and Spin the Wheel.
While the Blue Coin Rush game is available for users on any day, rewards can only be won on Mondays. Every point won on the Blue Coin Rush game is equal to a cashback value of AED. On the other hand, Spin the Wheel is available for users on Wednesdays and provides a chance to win various prizes. Notably, these prizes can be customized either daily, weekly, or monthly. 

PayNXT360 expects digital wallet providers worldwide to offer more value to customers through innovative loyalty programs from the short to medium-term perspective.