Thu, Aug 21, 2008 - Page 11 News List

Bonus point system unveiled for ‘icash’


President Chain Store Corp (統一超商) yesterday announced a new bonus-point accumulation system for its “e-wallet” (electronic wallet) system, dubbed “icash,” aimed at customers who tend to make smaller transactions.

President Chain, the nation’s largest convenience store chain operator with more than 4,000 7-Eleven stores nationwide, said it expected the bonus-points system would help attract customers.

The company expects the number of icash members to grow from the current 5.8 million to 6 million by the end of the year, and projected that its sales would increase by 10 percent this year from a year ago.

It said experience gained from Japan showed that, in contrast with the stagnant Japanese credit card market, the “nanaco card” issued by Seven-Eleven Japan Co in April last year had become the most frequently used e-wallet within three months.

As a result of the credit card storm of 2006 and consumers’ budget concerns, President Chain said its card circulation in Taiwan had decreased by 1.35 million last month from a year ago.

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