Retail technology platform, 24SEVEN has partnered with BILRS, a global bill payment platform to support GCC’s baqalas with embedded finance technology.
The deal will enable a range of financial services to be embedded into grocery store POS devices, hardware and software including the ability to make domestic and cross-border bill payments.
In November, Jarrar Shah, CEO and co-founder of 24SEVEN said the company was on a mission to transform the Middle East’s typical point-of-sale (POS) devices into a ‘point-of-everything’. He also explored four key technology drivers that will accelerate digital inclusion for grocery store owners.
By integrating BILRS with 24SEVEN’s cloud-based platform 24SEVEN Optima, the firms are aiming to enhance the cross-border capabilities of expat workers in the UAE. This includes the ability to pay bills such as utility, water, internet, health and education, as well as buy prepaid products such as domestic and international mobile top-ups.
24SEVEN said it will roll out the integrated services in Q1 2024 as the company looks to further tap into the UAE’s USD $37 billion grocery retail segment.
Jarrar Shah, CEO and co-founder of 24SEVEN, said “Our collaboration with BILRS will help to unlock new growth and revenue generating opportunities for baqalas and grocery stores across the Middle East. Baqalas are an integral part of the region’s cultural and retail heritage. Bringing digital-first technology that transforms a point-of-sale device into a ‘point of everything’, can help baqalas to maintain their relevancy and competitive edge.”
Saif Khan, President, EMEA from BILRS added, “We’re excited to support 24SEVEN’s powerful mission to shape retail payments in the Middle East. Working together with 24SEVEN Optima, we can bring improved digital experiences for retailers and their consumers, support their operations and maximise their sales.”
