KASIKORNBANK partners Shopee to first time introduce a new financial solution on Shopee platform catering to rapid growth in e-commerce

Stocks and Financial Services Press Releases Wednesday October 2, 2019 14:02
Bangkok--2 Oct--KASIKORNBANK
  • Introducing digital loans service without submitting any physical documents for Shopee's sellers on K PLUS app
  • Special promotions for Shopee's shoppers who make payment using KBank credit card

KASIKORNBANK in partnership with Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, have teamed-up develop a new financial solution to meet the rapid growth of e-commerce, starting with a new service to help online sellers access funds more conveniently through the launch of digital loans service for Shopee's sellers. Special gifts will be offered to allow shoppers to have fun and get better value for money with special promotions when making payment with KBank credit card.

Patchara Samalapa, President of KASIKORNBANK, said KASIKORNBANK believes in its 'Better Together' commitment to work closely with strategic partners who are the best-in-class in their sectors. This helps leverage the strength of KASIKORNBANK, as the leader of digital banking with expertise in all financial solutions to serve the needs of different groups, particularly online sellers and shoppers. The bank uses this strength to   support strategic partners in different lifestyle sectors, touching lives of many groups of people, to create new solutions or platforms that suit their business needs as well as modern consumers' lifestyles. This partnership between KASIKORNBANK and Shopee further strengthens Thailand's e-commerce, which has grown by 14% in the past year.

"Through this partnership between KASIKORNBANK and Shopee, we are committed to offering a full range of financial products through our MADHUB. We will serve online sellers who want to equip themselves and expand their business through various methods. KASIKORNBANK is familiar with and understands the needs of SMEs and online businesses. The solutions that we offer will help them have better access to loans, as well as give them useful knowledge in online business, advice, trainings, and special deals designed just for online business."

Terence Pang, Chief Operating Officer, Shopee adds, "Shopee is honoured to be KBank's official e-commerce partner to launch their first digital loans service. Our partnership with KBank is synergistic, as we both are committed to empowering sellers and making lives better through innovation and technology. By integrating KBank's digital loans to our platform, we are able to simplify processes so that sellers can continue to focus on growing their business without worrying about the administrative parts of obtaining a loan."

The partnership between Shopee and KASIKORNBANK will offer the following privileges to Shopee's shops and buyers.

Access to funds in MADFUND loans for online business through Shopee's platform without submitting any physical documents. They are also able to apply for loans on K PLUS app. The bank considers the applicant's income and profile. The loans allow sellers to expand their business with more confidence, and get loans up to 600,000 THB.

Opportunities to access services under MADHUB, hub of online dreamers and makers. This will help strengthen their business by giving them all the necessary tools for online business, such as management tips, trainings, consultation areas, seminars, and special deals to help them run their business more easily.

Through this partnership, with KASIKORNBANK as a hero partner, buyers who make payment using KASIKORNBANK credit card can enjoy special privileges beyond any credit card, which will make shopping more fun and offer better value for money. Buyers will receive extra discounts and Shopee coins from regular promotions in each month's campaign.

"Shopee is confident that this partnership will empower local SMEs and entrepreneurs in Thailand, and to help them adapt to and thrive in today's highly dynamic digital landscape," Pang added.
Access to Shopee through www.shopee.co.th or download the Shopee app for free on Apple App Store or Google Play Store.

The KASIKORNBANK Public Company Limited was established on June 8, 1945. Throughout the past 70 years, the Bank has always strived to develop our organization and offer financial product initiatives plus excellent service delivery to match our slogan,"Towards Service Excellence" and "Customer Centricity" concept. This led to the consolidation of KASIKORNBANK and subsidiaries (K Companies) and "K KASIKORNTHAI" symbol was adopted to guarantee quality and standards.

KASIKORNBANK aims to be a most innovative, dynamic, and proactive customer-centric financial institution that creates sustainability for all stakeholders and aims to harmoniously combine technology and human resources to sustainably create world-class-quality financial services, so as to achieve optimal benefits for all stakeholders.

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It is a platform tailored for the region, providing customers with an easy, secure and fast online shopping experience through strong payment and logistical support. Shopee aims to continually enhance its platform and become the region's e-commerce destination of choice.

Shopee has a wide selection of product categories ranging from consumer electronics to home & living, health & beauty, baby & toys, fashion and fitness equipment.

Shopee, a Sea company, was first launched in Singapore in 2015, and has since expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam and the Philippines. Sea is a leader in digital entertainment, e-commerce and digital financial services across Greater Southeast Asia. Sea's mission is to better the lives of consumers and small businesses with technology, and is listed on the NYSE under the symbol SE.

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