Honestbee Eyes Overseas Expansion for Cashless Offline Stores

Written by: admin on December 3, 2018

Honestbee to Open Cashless Offline Stores in Three Overseas Markets

Online grocery delivery app Honestbee plans to expand their cashless brick-and-mortar stores in three overseas markets next year. These stores will be opened at countries where Honestbee has launched their online grocery service. The store will be based on Habitat by Honestbee, the offline store recently opened this year in Singapore.

In Honestbee’s offline outlets, customers will be required to make all transactions through the Honestbee app. This means customers can scan a product’s barcode in the store or order any food and beverages and pay with e-money. Through these brick-and-mortar stores, Honestbee aims to counter the rising threat from other ecommerce companies in Southeast Asia, such as Alibaba and Amazon.

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Online Payments Catches Up with Cash in Thailand

According to a study by Nielsen and UnionPay International, 87% of Thai consumers use cash to make transactions and 75% of them use QR codes when paying via mobile phones. Additionally, 71% of respondents wish to see Thailand turn cashless.

In fact, 91% of respondents say they will take the initiative to teach people around them, including their friends, family, and colleagues, how to use mobile payments. From the results, this study suggests that Thai consumers are favorable towards a cashless society.

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Black Friday and Cyber Monday Tops Records at Over $1 Billion in Mobile Payment Volume

Black Friday and Cyber Monday broke records in terms of mobile payment volume by achieving more than $1 billion in sales for the first time ever. For Black Friday, this year’s mobile payment volume was higher than the previous year by 42%. On the other hand, Cyber Monday had more total payment volume.

Globally, 43% of PayPal’s total payment volume came from mobile payment transactions from Thanksgiving to Cyber Monday. During this period, PayPal processed over $11,000 per second on mobile and over $25,000 per second in general.

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Thai-based Coffee Chain Cafe Amazon to Open 20,000 Cafes Globally

Thai-based coffee chain Cafe Amazon will be opening 20,000 cafes worldwide as it aims to rival Starbucks. In comparison, Cafe Amazon currently only has 2,300 stores in Thailand, the Philippines, Myanmar, Cambodia, Japan, and Laos.

To accomplish this, PTT, a Thai oil company that owns Cafe Amazon, will be investing $1.3 billion to make the coffee chain into one of the world’s top 10 brands for the next five years. Other than Cafe Amazon, PTT plans to add more petrol stations and grow their lube oil retail business.

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Zilingo Considers Establishing its Own Financial Services Arm

Fashion, beauty, and lifestyle online platform Zilingo considers opening its own financial services arm to offer its merchants financial services, including loans and payments. Although it is already collaborating with third-party businesses to offer financial services to merchants, it might develop these services in-house in the long-run.

Established in May 2015, Zilingo currently serves more than 20,000 merchants and retailers in Southeast Asia’s B2C and B2B sectors. The startup had also launched Zilingo Asia Mall (ZAM), a B2B-based platform, in the US and Europe this year.

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7-Eleven Malaysia Sees Net Profit for Q3 Increase by 4.1%

New store openings and improved margins are causing 7-Eleven stores in Malaysia to have an increase in net profit by 4.1% for the third quarter, 13.3% year-to-date, and 27.6% quarter on quarter. On the other hand, sales growth is smaller at 1% for the third quarter and 1.3% year-to-date.

According to 7-Eleven Malaysia’s CEO Colin Harvey, new store openings and consumer promotion activities have driven 7-Eleven Malaysia’s net revenue of approximately $398.8 million year-to-date. There are currently 2,259 stores across the country.

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