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KBank launches ‘superior’ strategy for online customers

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Kasikorn Bank or KBank yesterday launching a “Superior” strategy to tempt the online customer segment, offering comprehensive digital business assistance and is preparing to provide wide-ranging financial facilities.

The strategy will cover five features including easy payment, enhanced liquidity, sales channels, K online shop space or KOS, and K Digibiz.

The strategy responds to the growing e-commerce trend and the demand of the online business segment, says the Bank’s president Patchara Samalapa.

He said that according to the Electronic Transactions Development Agency (a public organisation), e-commerce is growing steadily as business activities evolve.

In 2017, e-commerce transactions in Thailand totalled Bt2.81 trillion, of which Bt812.61 billion went to business-to-customer (B2C) trade. In 2018, e-commerce transactions were expected to grow 17 per cent to reach a total value of Bt949.12 billion, with transactions via social media, the e-marketplace and modern-trade online platforms under accounting for 40, 35 and 25 per cent, respectively. Funds transfers via banks have become the most popular mode of payment, representing 65 per cent while the other 35 per cent are through credit cards.

KBank accounts are the most popular channel for customers making e-payment transactions. About 300,000 KBank customers are in online businesses, some of which are encountering multiple pain points in their operations. Those include intense competition, lack of online marketing knowledge, management difficulties, insufficient working capital and an inability to fulfil customers' needs via various channels.These businesses are seeking to expand their sales channels, says Patchara.

Online business start-ups, as well as people interested in setting up their own enterprises, need to learn how to sell products successfully and how to choose the right goods, he said.

Published : October 17, 2018

By : The Nation