In partnering with Cathay United Bank (CUB), Soft Space is introducing an innovative way to make payments that will empower FamilyMart Taiwan known as ‘My FamiPay’. The application integrates and binds debit, prepaid, credit cards and other various stored value cards for in-store purchases and utility bill payments to enable seamless loyalty points collection for their consumers with just a click of a button.
According to eMarketer, 73.4% of Taiwan’s population uses smartphones, Soft Space saw an opportunity to undertake Taiwan’s digital payment market. From the collaboration with CUB, it provides an opportunity to increase both their customer base by 20% by the end of the year.
By using Soft Space’s e-wallet, CUB can offer tailored financial and digital services while managing risk effectively, whereas FamilyMart Taiwan’s members can benefit from CUB’s extensive clients list.
The enhanced version of My FamiPay provides a more comprehensive payment service by connecting various cards to allow users earn reward points, which they can redeem. Furthermore, it accepts transactions to be made from over 21 non-cash payment providers by scanning the barcode on the application.
Meanwhile, its second phase includes supporting Online-to-Offline (O2O) delivery and pick-up service that allow customers to collect their purchased items at any FamilyMart convenience store in Taiwan. Apart from that, the “My FamiPay” app will soon be a third party payment processor that allows business owners to accept money online seamlessly.