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Asia Tech Podcast
EP 296 - Ameer Jumabhoy - co-Founder at utu - We Recast Tax-Free Shopping as a Country Reward
Oct 3, 2023
Ameer Jumabhoy, co-founder of utu, discusses the evolution of tax-free shopping, challenges of building digital wallets, importance of superior customer experiences in luxury retail, benefits of tax-free shopping for countries, and the power of rewards.
30:23
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Quick takeaways
- U2 aims to disrupt the traditional tax refund process by offering products like U2 Privileges and U2 Air Miles, which provide tourists with enhanced rewards and incentives for shopping in a particular country.
- U2 is focused on revolutionizing the travel retail industry by leveraging technology, optimizing core offerings, and building strong partnerships with retailers, airlines, and hotel groups.
Deep dives
Overview of U2 and the Concept of Country Rewards
U2 is a company that focuses on rewards, specifically in the niche of tax-free shopping. They have developed the concept of country rewards, which involves recasting the traditional tax-free shopping model as a rewards engine. The idea is for governments to incentivize tourists to shop in their country by offering to refund the VAT or GST taxes paid on purchases. U2 aims to disrupt the tax refund process by introducing products that benefit all stakeholders and add value to the customer's shopping experience.
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