Introduction

Travel fintech utu has launched the first downtown tourist refund voucher program in Dubai’s Gold Souk. This initiative allows travelers to convert tax refunds into vouchers worth up to 25% more than the original refund.

Program Details

Tourists can now easily access their vouchers through utu’s web application, providing a convenient and immediate benefit when shopping. This system operates alongside UAE regulations, offering an alternative to the conventional cash or credit card refunds at airports.

Objective

By initiating the program in the Gold Souk, utu aims to enhance the shopping experience and elevate tourist spending in the UAE. Building on its collaboration with Avolta, utu plans to expand this service across various retail locations in the city.

Customer Experience

Once tourists complete their purchase at participating shops, they can instantly receive a digital voucher, which is usable at that store. The standard airport tax refund procedures remain unchanged, ensuring compliance with regulations.

Key Partnerships

The program’s launch includes Thangals Jewellery, a prominent retailer since 1974, which is participating in the initial phase with plans for further expansion.

Executive Insights

Fazil Thangals, CEO of Thangals Jewellery, emphasized, “utu’s innovative voucher program provides tourists with immediate additional purchasing power, which we believe will significantly enhance sales.”

Meanwhile, Asad Jumabhoy, CEO of utu, remarked, “This initiative increases spending power for tourists, aligning with Dubai’s goal to boost tourism and enhance the shopping experience.”

Conclusion

The Gold Souk is an ideal location for this program, capturing a significant share of tourist tax refunds related to gold and jewelry purchases. This initiative marks a strategic effort to make Dubai a leading shopping destination for global travelers.