It's basically an attempt to clone Lyoness and AiYellow mixed into one.

Retailers won't see it as a scam, but it won't be very profitable for them either. The discounts they give aren't there until customers walk through their doors, but if there's enough of them it may ruin them instead of helping them. Sorta related to the various horror stories about how Groupon killed a couple small businesses when those extra orders they brought in (offered at a loss) killed the company's cashflow. It sure generated a lot of buzz, but that rush ain't always worth it. Only super-high-margin businesses can afford to do Groupon (spas, resorts, etc.)

Which is the same issue you said, basically. Small margin neighborhood stores won't touch this, and big chain stores won't bother with this. Some "medium" size stores can be tricked into joining, but the only one making any money off this would be the sales reps and FlexKom themselves.