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News 3 May 2022 - 1 min read

Mark Britt and Pat Darcy’s fintech drops ‘it’, now just Beem as loyalty play takes shape

By Staff writer

Beem the new name for loyalty-wallet-social commerce hub helmed by former Mi9 boss Mark Britt, with ex-Dentsu exec Pat Darcy as growth chief. 

What you need to know:

  • Beem It wallet rebranded to Beem.
  • Firm plots broader marketplace expansion underpinned by loyalty data.
  • Claims 1.5m users.

Beem It the fintech loyalty play helmed by former Mi9 CEO Mark Britt with ex-Dentsu exec Pat Darcy driving growth has rebranded as Beem.

The platform, which started as a digital wallet, aims to go much further. It launched its loyalty programme, Beem Rewards last month and claims 500 brands and merchants are onboard.

“Right now our team is working hard in the development trenches, creating an even better Beem – this means constantly evolving to elevate payment experiences,” said Britt. “The new look and name is just the beginning of some great things coming.”

The firm last year told Mi3 is aims to create a social commerce hub with major brand opportunities and will ultimately allow users to pay for products through the platform using a combination of currencies, including loyalty points and cryptocurrency.

Banks and retailers are building out loyalty programmes and marketplaces as big tech and regulators change the rules around data tracking, collection and consent. The likes of Commbank and ANZ have identified loyalty and linked services within walled gardens as significant growth drivers while acting as defensive measures against incursions by global platforms.

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