Dubai, United Arab Emirates, 02 March 2015. Beam Wallet, a pioneer in mobile commerce and rewards platform has been awarded the 'Technology Innovation Leadership Award in Mobile Payment Services' at the annual 'Growth, Innovation and Leadership (GIL) 2015: Middle East', by Frost & Sullivan. One of the few awards distributed within the IT sector by the global growth consulting firm, this accolade highlights the significant contribution Beam Wallet is making in delivering innovation in the Middle East.

Measured on performance through a process of independent interviews and unbiased industry research conducted by Frost & Sullivan, the award recognises Beam Wallet's contribution in mobile commerce, which has revolutionized the retail experience with a world-class App that delivers unmatched benefits for both consumers and retailers. 

Nadim Khoury, co-founder of Beam Wallet, said, "We're delighted that Beam Wallet has been recognised for its transformative role so early in our evolution. There is no doubt of the innovation we are delivering to an industry that needs to move faster than its consumers to ensure survival and success. The future of retail is mobile - whether online or offline - and Beam Wallet helps businesses harness the potential of this with no additional investment, risk or complication to their everyday operations - it's a no-brainer at every level."

Speaking about the award to Beam Wallet, Satyajit Lele, Research Analyst, Best Practices, Frost & Sullivan said, "This award recognises the resolute efforts of the Beam Wallet team for creating an application through which users can make payments using their smartphones. This technology has the potential to make payment by cards a thing of the past. The unique feature of delivering rewards and offers straight into the hands of consumers and also connecting with them on a real time basis helps the company gain competitive advantage."

The award comes early in Beam Wallet's operation, which began less than 36 months ago. Offering convenience, security, and a completely contactless payment solution via smartphones to shoppers, Beam Wallet's unique value proposition has already secured over 1,200 retailers and more than 100,000 active users in the United Arab Emirates (UAE) alone. Recent partnership announcements with retail giant Majid Al Futtaim and telecom provider Du will only serve to further boost these numbers, as the company embarks on an ambitious expansion programme across the Gulf Cooperation Council (GCC), Australia, and Sweden.

Frost & Sullivan's Best Practices Awards recognises companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and, extensive secondary research in order to identify best practices.

For more information on Beam Wallet, please visit:  www.beamwallet.com

To download the Beam Wallet mobile App: Search for 'Beam Wallet' in iTunes, App World or Google Play App stores.

About Beam Wallet:
Beam Wallet is an innovative tech company headquartered in the UAE.  Established in 2012, the company has developed and launched a unique and revolutionary mobile commerce and rewards platform that is transforming the shopping experience for consumers, and bridging the gap between the digital and bricks & mortar retail environments.  The Beam Wallet mobile App, which works across any platform, with any retailer and with both Android and iOS operating systems, offers consumers a rewarding, convenient and secure way to shop. For businesses, Beam is a mobile marketing platform that delivers increased revenue, and gives them the ability to reward and engage with their customers directly through their smartphones.  There are more than 100,000 users and over 1,100 retail outlets already enjoying the benefits of this unique mobile commerce platform in the UAE, with expansion into other markets regionally and internationally scheduled for 2015.   

About Frost & Sullivan:
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. 

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including research, analysis, strategy, vision, innovation and implementation.  

The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible.  This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.   For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? 

Media Contacts:
For Beam Wallet:
Claudia Curici                                                                                   
Mojo PR
claudia@mojo-me.com
M:  +971 55 377 3977

For Frost & Sullivan:
Paroma Bhattacharya
Corporate Communications - Middle East and North Africa
P: +91.22.6607 2047
F: +91.22.2832 4713
E: paromab@frost.com

Ravinder Kaur
Corporate Communications − Middle East, North Africa and South Asia
P: +91 44 6681 4413
F: +91 44 2431 4264
E: ravinder.kaur@frost.com

© Press Release 2015