Image credit: Dubai Media Office/Supplied photo
Dubai Duty Free has partnered with TerraPay to enhance shopping for over 100 million customers. The partnership will help individuals or travellers shop by using their home-country wallets at the Dubai Duty Free.
Read: Dubai Duty Free reports record annual sales of Dhs7.9bn in 2024
What is TerraPay?
TerraPay is a global money movement company that provides shoppers with access to one of the world’s most expansive cross-border payment networks, regulated in over 30 global markets.
What does the platform do/intend?
- It enables payments to over 150 receiving countries, more than 210 sending countries, 3.7 billion mobile wallets, 7.5 billion bank accounts, and over 12 billion cards.
- It makes money transfers instant, transparent, and fully compliant.
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How will the partnership benefit travellers/shoppers?
According to a report in the Dubai Media Office website, This partnership allows travelers to make purchases using their home-country digital wallets, providing an extremely convenient and accessible shopping experience.
With leading mobile money operators like Airtel Money, M-PESA, and MTN MoMo already partnered with TerraPay, shoppers will be able to use their home-country wallets to shop at Dubai Duty Free.
Not only will this enhance convenience, but it will also offer shoppers a preferred alternative to existing payment methods.
Partnership benefits for Dubai Duty Free
This alliance provides Dubai Duty Free with access to:
- TerraPay’s extensive global network, including over 3.7 billion mobile wallets.
- An effective cross-border payments infrastructure to accept users’ preferred payment methods.
The future of digital wallets
Digital wallets are set to dominate the payment landscape worldwide.
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They are expected to account for 52 per cent of the world’s e-commerce sales and 30 per cent of point-of-sale transactions, as well as 35 per cent of all cross-border payments this year.
Facts about Dubai Duty Free
- Founded in 1983
- Recorded first-year sales of US$20 million
- Became one of the biggest travel retail operators globally, with a sales turnover of US$2.164 billion in 2024
- Employs over 6,000 people
- Operates in around 40,000 square meters of retail space across Dubai International and Al Maktoum International airports
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