Loyyal and Huawei Cloud Middle East Sign MoU to Drive Blockchain Innovation in Loyalty and Payments at GITEX Global 2024

Dubai, UAE – October 19. 2024
In a groundbreaking development at GITEX Global 2024, the world’s largest tech and startup show, Loyyal and Huawei Cloud Middle East have officially signed a Memorandum of Understanding (MoU) to drive blockchain innovation in loyalty and payments. The partnership, unveiled at both GITEX Global and the Expand North Star Future Blockchain Summit 2024, marks a pivotal moment in the evolution of loyalty programs and the broader commerce ecosystem.

The collaboration between Loyyal, a leader in blockchain-powered loyalty solutions, and Huawei Cloud, a global provider of advanced cloud services, aims to revolutionize the way loyalty points are managed, exchanged, and redeemed across programs. This transformative partnership will enhance loyalty points interoperability and create new opportunities for merchants and businesses to generate additional revenue streams, ultimately creating a more seamless and dynamic loyalty ecosystem.

The MoU between Loyyal and Huawei Cloud Middle East comes at a time when loyalty programs are seeking greater efficiency, flexibility, and scalability. By integrating blockchain technology with Huawei’s cloud infrastructure, this collaboration seeks to address some of the most persistent challenges faced by loyalty programs, including points liability, low engagement, and the limitations of existing redemption options. With blockchain’s inherent security and transparency features, the partnership will provide a solution that enables more robust management of loyalty points, greater consumer trust, and more efficient transactions.

Ashish Kumar Singh, CEO of Loyyal, expressed her enthusiasm for the partnership, saying, “This collaboration with Huawei is a major step forward in the journey to revolutionize the loyalty and payments landscape. By leveraging Huawei’s cutting-edge cloud technologies and our blockchain expertise, we are opening up exciting new possibilities for businesses and consumers alike. We envision a future where loyalty points are interoperable across multiple programs, creating a richer and more rewarding experience for everyone involved.”

Loyyal’s blockchain technology will enable businesses to tap into new ways of connecting with their customers, offering them more value through the ability to interact with various loyalty programs in a single ecosystem. With blockchain’s transparency and efficiency, merchants will be able to better manage the flow of loyalty points while reducing the risk associated with unused or expired points.

As the world moves toward a more interconnected digital economy, Loyyal and Huawei Cloud Middle East are positioning themselves as leaders in reshaping the future of loyalty and payments. By combining their strengths, the two companies are paving the way for a more resilient, scalable, and user-centric loyalty experience—one where businesses and consumers can truly benefit from seamless interoperability and enhanced rewards.