Five join hands for fund transfer across wallet apps

Subscribers have to download the app – AIS mPAY, DTAC’s Jaew Wallet or Wallet by TrueMoney – to access the service.

mPay and TrueMoney are already available, while Jaew Wallet will be available next month so that the service can go full steam in the middle of next month.

mPay has about 1.5 million registered subscribers, while TrueMoney has 4 million.

Users can conveniently transfer up to Bt10,000 per time to a recipient and pay for purchases anywhere, anytime for a promotional fee of Bt5 per transaction until the end of next year.

Executives of the three operators said yesterday that this launch marks the first step of their collaboration on e-money services and is their response to the increasing preference among Thais for making transactions online and via mobile.

MasterCard’s Online Shopping Survey found that 58.8 per cent of Thais performed at least one mobile transaction last year, reflecting the worldwide trend towards e-commerce and mobile commerce.

Supreecha Limpikanjanakowit, managing director of Advanced mPAY Co, said AIS’ vision calls for leadership as a digital service provider, aiming to deliver beneficial digital networks and services for Thais.

Panthep Nilasinthop, senior vice president and head of financial services and innovation at DTAC, said the company’s most important goals for its financial services are to drive the country towards a cashless society and support the government’s Digital Economy policy.

Wisanu Sricharoen, assistant director of True Money, said this joint effort would encourage more people to engage in e-commerce transactions.

Antonio Corro, manager for Thailand and Myanmar at MasterCard, said MasterCard is proud to be part of this partnership.

Its interoperability technology ensures that all customers can use their digital wallets easily and with full confidence no matter where or when.