KTC spreads its wings in the collaboration with Minor Internationals endorsement of the Alipay payment service, aiming to draw capital expenditure from Chinese tourists in restaurant-shopping-hotel categories.

Stocks and Financial Services Press Releases Monday November 20, 2017 15:01
Bangkok--20 Nov--Krungthai Card

""KTC"" partners with major alliance ""Minor International"" in launching the goods and services payment system, ""Alipay"", China's leading third-party online payment solution, at a total of 1,300 food & lifestyle outlets and hotels in Thailand operating under Minor International. The collaboration aims to provide convenience to Chinese tourists who are regarded as Thailand's leading foreign tourism group.

Mrs. Charoonsri Srisukson, Executive Vice President - Merchant Acquiring ""KTC" or Krungthai Card Public Company Limited, speaks about the collaboration between KTC and Minor International Public Company Limited, ""KTC is extremely honored to be entrusted by Minor International in the execution of the ""Alipay"" payment system to the 8 Food Brands merchant's payment system at sales points also known as POS System Integrationand the 12 brands of fashion & lifestyle as well as the leading hotels under Minor International, via the QR Code Scanning device, for all payments of goods and services at all merchants operating under Minor International. From now on merchants will use the QR Code Scanning device scans the QR Code in the ""Alipay"" application on customer's smart phones and specify the value of the goods and services in Thai baht. The system will print out a sales slip for customers without the need of customers' signatures, and customers will receive a transaction confirmation in the Chinese yuan currency on ""Alipay"" application which is a modern, rapid, convenient and flexible method for payments of goods and services for both customers and merchants. The acceptance of Alipay payment service will help to stimulate more spending from Chinese tourists, as Thailand is the shopping destination for Chinese people and generating huge income for merchants, as well as promote Thai retail businesses to the Chinese through promotion advertisements in the ""Alipay"" application.

Mr. James Richard Amatavivadhana, CEO Minor Lifestyle, converses about the benefits from the collaboration with KTC in endorsing the Alipay payment system for goods and services, ""It's a great opportunity for Minor International to collaborate with KTC, Alipay's main alliance who provides integration to the Alipay payment system for all of our 3 business groups - Minor Hotels, Minor Food, and Minor Lifestyle, which amount to over 1,300 branches in Thailand. With a rise of incoming Chinese tourists, we need to be quick to support their adoption of technology and their preference on digital payment, a lot of whom often use the ""Alipay"" application. Chinese tourists will benefit from the convenience which begins from the trip planning stage to traveling within Thailand. Images and details on locations of hotels, restaurants and retail stores under Minor International will be displayed in the ""Alipay"" application along with a navigator to help customers locate the store. Additionally, the Alipay service will allow hotels and participating retailers to enlist in promotions and provide special privileges to customers.""

Mrs. Charoonsri adds, ""KTC is receptive in collaborating with any merchants with Chinese Tourist Customers, whether it is a large scale business or a small one, in order for them to serve as options that provide payments for goods and services using Alipay with a variety of payment devices that comply and are considered appropriate to all businesses, for instance, large scaled businesses - POS System Integration / medium scaled businesses - service via the QR Code Scanning device; merchants scan customer's QR codes, provides transaction confirmation slips that reassures stores and are faster without the requirements of signatures / small scaled business or retail businesses-service via Static QR Code; customers scan merchant's QR Codes, specify the desired amount of transaction via Alipay and merchants will instantly receive SMS confirmation.""

KTC is Thailand's leading financial institution that began to provide merchants the ""Alipay"" payment system for goods and services since the end of 2015 for Chinese tourists to make payments through ""Alipay"", China's leading Mobile Payments Service with over 520 million users. KTC is Thailand's Top-performing Alipay payment service acquirer with focusing on efficient service to the merchants. KTC merchants, accepting Alipay payment service will receive payments in their Krung Thai Bank's account one day after the transaction date (T+1), including Saturdays and Sundays, Chinese New Year and Golden Week, which are Chinese holidays that bring an influx of Chinese tourists and spendings into Thailand. Merchants that are interested in endorsing KTC's ""Alipay"" payment method for goods and services can contact KTC's merchant service at 02-123-5700 every operational day between 09.00 AM. -17.00 PM.

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