Photo Release: Visa Obtains Domestic Network Licence for Debit Transactions in Thailand

Stocks and Financial Services Press Releases Wednesday November 15, 2017 13:46
Bangkok--15 Nov--Spark Communications
Visa Debit to increase financial inclusion, improve security, and advance innovation as Thailand forges ahead with National ePayments Plan
From left to right;
Chris Clark, Executive Vice President and Group Executive, Asia Pacific, Visa
Ruchukorn Siriyodhin, Deputy Governor, Bank of Thailand
Predee Daochai, Chairman, The Thai Bankers' Association

Visa, the world's leader in digital payments, has obtained a domestic network licence from the Bank of Thailand. Through a partnership with National Interbank Transaction Management and Exchange (National ITMX), Visa will provide banks and merchants with a comprehensive suite of Visa's debit products and resources to grow digital payments for the people of Thailand.

A Visa debit card provides consumers with fast, simple and secure access to the funds in their bank account and can be used to make purchases wherever Visa is accepted online and at more than 40 million merchant locations around the world.

Suripong Tantiyanon, Country Manager, Visa Thailand said: ""As the demand for faster, more convenient and secure electronic payments grows in Thailand, we see a tremendous need for a solution such as Visa Debit. The world of commerce continues to evolve at a phenomenal pace. Visa Debit can be used as a physical card or as the underlying digital account for QR Code or mobile payments, while also enabling cardholders to receive rewards and other benefits.""

This licence allows Visa to fully participate in Thailand's domestic debit market and support the government's National ePayment Plan.

""By obtaining a domestic network licence, Visa can continue to drive innovation and expand access to electronic payments in Thailand creating a more financially inclusive ecosystem for all. Visa Debit will be a key tool in the adoption of electronic payments in the country, helping Thais to become more financially confident,"" said Mr. Suripong.

For decades, Visa, together with its financial institution and merchant partners, has consistently invested in growing electronic payments in Thailand. This has included growing card issuance and acceptance, educating consumers and merchants on the benefits of electronic payments, and introducing new payment innovations.

Visa operates one of the world's largest retail electronic payments networks, VisaNet, processing more than US$9.5 trillion worth of transaction a year, with built-in fraud protection for consumers and assured payment for merchants. Thailand will benefit from Visa's technological expertise and more than half a century of knowledge in growing an open and sustainable payments ecosystem.


Latest Press Release

Photo Release: Bangkok Bank welcomes BOT Deputy Governor at its booth featuring BeSure QR campaign

Bangkok Bank President Chartsiri Sophonpanich (2nd from right), Senior Executive Vice President Virasak Sutanthavibul (left), and Director and Executive Vice President Dr. Thaweelap Rittapirom (right), together with BBL Asset Management Chairman Vorawan...

Photo Release: KBank offers free assistance to SME to tap into online market via K PLUS MARKET

Ms. Kattiya Indaravijaya (middle), KBank President, and Mr. Surat Leelataviwat, Executive Vice President, offered free assistance to Thai SME to sell their products in online market via K PLUS MARKET, for example, "i-Yha" dehydrated rambutan by Ms....

KBank offers free assistance to SME to tap into online market via K PLUS MARKET

To reemphasize its digital banking leadership, KASIKORNBANK (KBank) has integrated products and services of small businesses into K PLUS MARKET, which is the e-marketplace platform under K PLUS application. With a large customer base of more than 8.1...

Nufarm Ltd.#s New Senior Unsecured Notes Assigned #BB-# Ratings

MELBOURNE (S&P Global Ratings) May 23, 2018--S&P Global Ratings today said that it had assigned its long-term issue credit ratings of 'BB-' to Nufarm Ltd. 's US$475 million senior unsecured notes due 2026. The issuance comprises tranche A for an...

Pepper I-Prime 2018-1 Trust Prime RMBS Assigned Preliminary Ratings

MELBOURNE (S&P Global Ratings) May 23, 2018--S&P Global Ratings today assigned its preliminary ratings to eight classes of prime residential mortgage-backed securities (RMBS) to be issued by Permanent Custodians Ltd. as trustee of Pepper I-Prime...

Related Topics