7-11 Taiwan - Part 3: Payment

Tuesday, December 7, 2010

President Chain Store Corporation has storefronts and logistics well covered, but payment is arguably the only piece of puzzle that still has some room for improvement.

icash

icash is a prepaid card issued by 7-11 in Taiwan, sort of like pocket money used for micro-payment mainly in 7-11. It has a point accumulation system and benefits like cash rebate to promote spending.

icash has reached an important milestone this year after launching a co-branded "iu card" (icash悠遊卡). Important in the sense as this contactless card is not only limited to 7-11s, but it can be used for public transportations and selected stores like Starbucks, Sogo, Muji etc.

However, you cannot use icash to pay online yet, with the exception of their own online store - 7net. Obviously, this is the missing puzzle and something for President Chain Store Corp to work on.

ibon

ibon is another payment related service, or precisely multimedia kiosk available at the 7-11s in Taiwan.

One of the usage example is you can obtain a transaction number after completing an online order, use that number to print a payment slip via ibon, and pay via the counter at 7-elevens.

ibon on another hand also plays a role of storefront, which is a convenient channel for people to purchase especially virtual goods like gaming items, tickets, vouchers et al.

In short, ibon provides an alternative to paying online, where you can print the payment slip and pay over the counter. This greatly reduces the barrier for people who has great concern of paying online.

This is part of the 7-11 Taiwan - Super store on the cloud series.