All Win launches e-wallet service with FamilyMart
By Kao Shih-ching / Staff Reporter
All Win Co Ltd (全盈支付) yesterday launched its electronic payment service, the first operated by a chain of convenience stores in Taiwan.
Taiwan FamilyMart Co (全家便利商店), the country’s second-largest convenience store chain with 4,000 stores nationwide, is a major shareholder of All Win.
The new electronic payment company hopes to attract at least 1.5 million users by the end of the year, All Win Chairman Liu Mei-lin (劉美玲) said at a conference in press in Taipei.
The service awards users one reward point for every dollar spent at FamilyMart stores, Liu said.
Users can redeem the points at FamilyMart stores or its distribution partners, such as Watson’s Personal Care Stores (Taiwan) Co Ltd (台灣屈臣氏), PChome Online Inc (網路家庭), M-Taxi Co Ltd (大都會衛星車隊), Ikari Coffee (怡客咖啡) and various restaurants, she said.
All Win plans to integrate 10,000 physical and digital stores into its service, she added.
Regarding how the e-payment service would outperform a similar service offered by President Chain Store Corp (統一超商), the country’s largest convenience store operator, Liu said All Win would focus on working with retailers from different sectors to expand its consumer base. .
“President Chain is focused on vertical integration, including its subsidiaries – units of Uni-President Enterprises Corp (統一企業) – into its e-wallet service. In comparison, we would focus on horizontal alliances by partnering with different companies in multiple industries,” Liu said.
All Win believes an open platform would help attract customers, she said.
This is also why All Win’s e-payment service would accept credit cards from all local banks, while other e-payment services are limited to credit cards from certain banks, Liu said.
Even though E.Sun Commercial Bank (玉山銀行) is the company’s second-largest shareholder with an 18% stake, All Win would allow users to link their credit cards regardless of the issuing bank, because people already have their own preference of credit cards. , said Liu.
It would also differentiate its service with micro-finance products, such as online loans facilitated by E.Sun Bank and a “buy now, pay later” program offered by NP Taiwan Inc (恩沛).
It would also allow users to add money to their accounts at FamilyMart stores, so those who don’t have a credit card or those who don’t want to link their bank accounts to the service can still use it, the company said.
Liu was previously vice president of E.Sun Bank, but resigned when she joined All Win to comply with Financial Supervisory Commission regulations.
Neither Liu nor All Win chairman Hsueh Dong-du (薛東都), who is also chairman of FamilyMart, said when they expect All Win to make a profit, saying the company would give priority to the optimization of its service.
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