KBank offers big promotion, including fee cancellation and free selling space, to boost online trade

Stocks and Financial Services Press Releases Tuesday April 3, 2018 11:01
Bangkok--3 Apr--KASIKORNBANK

With full support to online trade, KBank provided fee cancellation and free space to boost sales turnover via K PLUS SHOP. While capturing new customer base, online sellers saw rising sales turnover, which is expected to reach 16.2 percent p.a.

Mr. Patchara Samalapa, KBank Senior Executive Vice President, said KBank's decision to waive fees for "transfer, top-up and payment" via K PLUS to enhance greater sales and business agility of online trade. From now on, online traders can conduct business with only a single account, without having to hold accounts at many banks, thus increasing their opportunities to access loans in the future.

In addition, KBank has K PLUS SHOP application to help merchants conduct their businesses - whether they are online and offline - more flexibly. With an instant notification alert as one of the most outstanding features, K PLUS SHOP allows both shop owners and assistants to know their incoming funds status in real time. Shop owners can authorize up to 10 shop assistants to get such an instant notification alert without them having to be at their stores at all times. They can also choose to obtain a sales summary on an hourly, daily or monthly basis, as well as being able to retrieve information from the system for sales analysis. A reward point accumulation program has been added to K PLUS SHOP as a new feature to help merchants build relations with their customers. Another outstanding feature of K PLUS SHOP for online business is that it allows merchants to create payment transaction reports that can be sent to each of their customers via social media. Funds transfers made through K PLUS SHOP are automatically verified to prevent sale slips from being forged. Moreover, buyers will be notified of their payment transaction status immediately without having to verify again and this makes K PLUS SHOP different from other applications in the market.

Apart from fee cancellation, KBank, on March 28-30, hosted "K PLUS PEEPSTER MARKET" at Pod Duang Plaza, KBank Phahon Yothin Building, providing free rental to well-known online traders to sell their online products on the ground. Special promotions were offered to shoppers using QR code via K PLUS as they could pay only THB8 for food items and THB88 for other consumer goods. The event contributed to the creation of a cashless society, an expansion of KBank's new customer base and an increase of sales for merchants. The three-day event featured 60 merchants with 5,200 transactions via K PLUS SHOP equaling to THB1.8 million of payments.

Mr. Patchara concluded that, at present, 1.2 million merchants are using K PLUS SHOP service with total 2.41 million transactions worth THB2.718 billion. This KBank's initiative to support online traders is expected to increase the number of downloads by 1.3 million merchants and transactions by approximately THB4.1 billion.

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