By The Nation
A press release on Thursday said that the continued expansion of international schools in Thailand brings stronger competition, a requirement for greater cost-efficiency as well as higher demand from parents for multiple payment methods that are reliable, safe and simple to use.
The omni-channel solutions allow businesses in Thailand to collect payments from customers via diverse payment methods including credit cards, bank transfers, e-wallets and cash.
The service enables corporates to experience greater operational efficiency by using one direct interface, eliminating their need to integrate with multiple payment service providers.
According to 2018 data from ISC Research, Thailand has around 170 English-medium international schools responding to the learning needs of pre-school, primary and high-school students, with nearly 66,700 pupils in total. Bangkok dominates the market, with 106 schools. Student enrolment has increased by 30 per cent since 2012 and is predicted to expand further as the country continues to attract more expats.
Kelvin Tan, Chief Executive Officer, HSBC Thailand said “HSBC is committed to making banking simpler, faster and more secure – and our digital solutions are market leading in this respect. Through a partnership with a leading payment service provider, our unique platform helps corporate clients to manage their cash more efficiently.
“As a global market-leading payment proposition, HSBC has made considerable investments in delivering the most secure and beneficial digital transaction services to customers in parallel with the provision of professional advisory services by dedicated industry-leading practitioners.”
Jason Tan, Regional Head of Global Liquidity and Cash Management, International, HSBC, said: “Market-leading, innovative cash management and treasury solutions at a regional level are now being rolled out in Thailand to cater to the nation’s evolving liquidity and payment collection needs.
“HSBC is committed to continued investment in our network markets to ensure we bring cutting edge solutions to our customers and help them thrive through digital transformation and innovation. A number of unique and ground-breaking initiatives will be launched in Thailand as we continue to invest more in the region.”
Paul Steven Schofield, Head of St Andrews International School said “We are delighted to be an early-mover in engaging with HSBC to embark on our digital journey. Through our partnership, HSBC has enabled us to reduce operational costs, enhance liquidity management, and improve sustainable business efficiency.
“With omni-channel solutions, we are also well equipped to build overall customer satisfaction through the payment flexibility regardless of time or place. Moving towards a more cost efficiency and customer centricity, we believe they are key for our business to grow.”
St Andrews International School provides primary and high school education. It was founded in 2001 and joined the Hong Kong-headquartered Nord Anglia Education Group of schools in 2012.
HSBC aims to be the leading international provider of main collections services for business clients in Thailand and is committed to supporting the development of Thailand’s payment infrastructure to build an innovation-based economy as part of the Thailand 4.0 aspiration.
So far, HSBC has provided PromptPay and Bill Payment PromptPay for business clients in Thailand and there are even more omni-channel solutions of to be introduced in the near future.