Thailand's E-payment players ready to rumble

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buksida
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Thailand's E-payment players ready to rumble

Post by buksida » Tue Dec 12, 2017 9:51 am

Intense competition in payment services will propel e-payment use in the coming year as banks and fintech firms seek to lure customers with innovative digital services.

Thailand has adopted a single standard QR (quick response) code for financial transactions, and e-wallet service providers are poised to ride the wave of the cashless society.

Non-banks are trying to expand beyond offline channels and join the QR parade, while banks themselves are vigorously adjusting to the national e-payment push.

The winner in the mobile payment space will be the provider that can deliver a good customer experience and innovative services.

According to the Bank of Thailand, e-payment value rose from 266 trillion baht in 2014 to 328 trillion in 2016, up 23%. E-money transactions grew from 56 billion baht to 91 billion in the period, a 63% gain.

Interbank transfers via mobile and internet soared from 453 billion baht in 2014 to 1.1 trillion baht in 2016, a 241% leap. Money transfers via mobile and internet at the same bank rose from 26.2 trillion baht in 2014 to 33.9 trillion in 2016, up 29%.

Thailand has 81 million bank accounts, 51 million debit card holders, 20 million credit card holders, 28 million PromptPay users, 40 million e-wallet users, 21 million mobile banking users and 15 million online banking users.

Over the next few years, the top mobile payment providers should become obvious.

SCB Easy of Siam Commercial Bank and Kasikornbank's K Plus are two active mobile payment providers, while the non-bank side includes TrueMoney, Line Pay, Garena's AirPay and AIS's mPay.

Punnamas Vichitkulwongsa, chief executive of Ascend Group, which runs TrueMoney Wallet, said True will expand mobile payment to provide more benefits to customers of offline merchants, in addition to current uses for online shopping, mobile top-ups and utility payments.

Full Story: https://www.bangkokpost.com/business/ne ... -to-rumble

Thought: Watch this space - blockchain solutions with crypto currencies coming soon!
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Re: Thailand's E-payment players ready to rumble

Post by buksida » Fri Dec 15, 2017 9:44 am

I guess this is related:

DHL to add 1,000 delivery locations in Thailand

DHL eCommerce Thailand, a division of the logistics firm Deutsche Post DHL Group, will expand its local delivery network to 1,000 locations nationwide by 2018, fuelled by online shopping growth in the country.

DHL ServicePoints now cover 200 spots in Bangkok and vicinity. Another 500 locations will be added in the first quarter next year.

Kiattichai Pitpreecha, managing director of DHL eCommerce, said the company, which entered the local market in 2015, makes 50,000 deliveries per day.

"We decided to expand our domestic delivery network in Thailand to reach 100% nationwide coverage through DHL ServicePoints," he said.

https://www.bangkokpost.com/business/ne ... -locations
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Re: Thailand's E-payment players ready to rumble

Post by RCer » Fri Dec 15, 2017 9:55 am

With things like Union Pay from BKK bank that is not accepted in 90% of retailers, good luck.

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