Funmaii plans to build cashless retail ecosystem
Malaysian convenience store concept Funmaii aims to become a major player in the cashless retail ecosystem.
It has made this announcement at the opening of its second outlet, in Bandar Puteri, Puchong. Its first store launched at Sunway Nexis, Kota Damansara, in January.
Designed like a normal convenience store, Funmaii outlets offer daily necessities combined with the ease of electronic payment. Customers simply pick up their items and make payment through the Funmaii app e-wallet service, or by Mastercard or Visa credit cards. As well as Malaysian food products, the stores offer imported snacks and beverages from Japan, Korea, Taiwan Funmaii co-founder Brian Wee says the shopping experience is centered on an all-in- one mobile app. Besides its e-wallet capabilities, the app also allows customers to track their expenses and redeem rewards in the form of discount vouchers, extra credit and rebates.
Meanwhile, Funmaii is about to introduce three types of convenience stores: Basic, Signature and Concept. Funmaii Basic stores offer cashless convenience and small seating areas, while Funmaii Signature stores also feature a “chillout” area for small events. Through partnerships with various brands, Funmaii has plans to set up Funmaii Concept stores that will feature an array of products and services not typically found at convenience stores, including dessert and coffee bars, and also fashion and beauty.
“We have an aggressive ambition to grow our network of Funmaii branded stores and kiosks, not only in Malaysia but also in Southeast Asia, including Singapore and Indonesia,” says Wee. “We plan to open around 30 outlets over the next 12 months and ultimately have 100 outlets by the end of next year.”
He says Funmaii also plans to install 10,000 vending machines in major shopping malls around Malaysia in the next three years.
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