FamilyMart Taiwan has launched an e-wallet known as “My FamiPay”.
The application, launched in collaboration with Cathay United Bank (CUB) and Soft Space, integrates debit/prepaid/credit cards and other various stored value cards to facilitate in-store purchases and utility bill payments.
Loyalty points can be seamlessly collected and used to redeem or make payments at the counter. Furthermore, the application accepts transactions from over 21 non-cash payment providers via barcode scanning.
The application will also support pre- order purchases offered exclusively to FamilyMart customers.
According to eMarketer, Taiwan is the most mobile country in the world with 73.4% of Taiwan's population using smartphones.
By using Soft Space’s e-wallet, CUB aims to offer tailored financial and digital services, while FamilyMart Taiwan’s members can benefit from CUB’s extensive client list.
Soft Space also plans to offer analysis services for FamilyMart Taiwan and CUB to embark on big data analytics.
Further plans include making the “MyFamiPay” app available to a third party payment processor that allows business owners to accept money online seamlessly.
First published in FinTech Innovation