By The Nation
The card boasts a stringent security system with free SMS notifications for purchases of Bt300 or over. Bangkok Bank is confident that the introduction of the card will help maintain its position as a leader in Thailand’s debit card market.
Bangkok Bank Executive Vice President and Credit Card Division Manager Shoke Na Ranong said the card can be used to pay at shops with the TPN symbol, those in the Mastercard network, and also for online purchases, both domestically and internationally.
In addition, the card also features a contact-less payment system which allows users to make payments by waving it at an Electronic Data Capture (EDC) machine without the need to swipe.
The card was developed with an integrated security system that features an embedded chip to prevent credit card fraud. Card-users can safely make transactions at both ATM and EDC machines using their 6-digit PIN verification. Users will get peace of mind with free SMS notifications when spending Bt300 or more so they can keep track of their card usage at all times.
“Consumer behavior has changed dramatically. More people use digital channels to buy products and services online while using less cash. In 2017, the value of Thailand’s e-commerce market stood at Bt2.813 billion and is projected to reach Bt3 trillion in 2018 (data as of July 24 from Event Digital Thai Digital Asia – DTDA).
Bangkok Bank is offering special promotions for cardholders, including SF movie tickets for 88 baht per ticket, discounts up to 50% from Grab and up to 30% off from GuavaPass.
TPN General Manager, Vipawan Yongvikul, said that the company aims to grow the payment network to facilitate the use of debit cards for store purchases through this collaboration with new global partner Mastercard. The key feature of the Be1st Smart TPN Mastercard is that it can be used by both swiping (contact) and waving (contactless), enabling easier and faster transactions.
Meanwhile Donald Ong, country manager for Thailand and Myanmar, Mastercard said, “Mastercard is delighted to partner with Bangkok Bank and the Thai Payment Network to launch the Be1st Smart TPN Mastercard. The co-branded debit product provides cardholders access to over 44.4 million Mastercard acceptance locations across the world. In addition to convenience, cardholders can enjoy peace of mind with embedded safety and security features such as EMV chip technology and 3D secure transactions for online purchases as well as unique privileges such as exclusive promotions from our merchant partners, both in Thailand and abroad. This initiative further underscores Mastercard’s commitment to provide safe, secure and seamless payments to further accelerate Thailand’s journey towards a cashless society.”