KTB Bank offers FB payment service for online shoppers

Praralee Ratanaprasartporn, senior executive vice president and head of Services Group Data Innovation, Krungthai Bank and Kathy Chang, payments partnership manager, APAC from Facebook, jointly launch “Facebook Pay with Krungthai NEXT” to create payment experience to online shoppers, who purchase goods and services from online stores via Facebook by using “Pay with Krungthai NEXT” function in Facebook without using bank account number or switching multiple screens and applications. 
Praralee revealed that as the bank has been announced digital strategy to move forward to the first invisible banking in Thailand. The bank has determined developing payment innovation in response to government’s digital economy and national e-payment policy and also encouraging payment and money transfers transaction via electronic channel.
“As in the present, consumer turns to proceed transaction via mobile banking due to the lifestyle of most people living with smartphone and purchasing products and services via online channel which faster and more convenient. Therefore in response to the growth of the social commerce market in Thailand, the bank has partnered with Facebook to launch Pay with Krungthai NEXT on the Facebook Messenger platform, which can create easy payment experience to online shoppers by connecting link from Messenger application with Krungthai NEXT to use as product and service payment channel via mobile banking by clicking “Pay with Krungthai NEXT”. 
The new service makes customers no annoyance of remembering store’s bank account number and switching the screen to open an application for payment. 
It also confirms the payment immediately by sending confirmation to the store after transaction completed which enables the store to close the deal easily, safer and more convenient than traditional transactions.
The bank wish this service also help strengthening the online trading business’s competitiveness to retail customers as well service to support and facilitate customers who purchase products and services from online store via Facebook especially for up-country customers which are the bank’s vital customer base.