KBank’s KGP makes online transactions a snap
Kasikornbank (KBank) has launched Kasikorn Global Payment Company Limited (KGP) to provide both merchants and online shoppers with the PayDii digital payment system.
The system allows merchants to conduct transactions without having to switch from one application to another. The version for online merchants is now available on Facebook.
KGP chairman Poramate Minsiri said it is a company that KBank has invested in with registered capital of Bt200 million.
The has its own board of directors, with an independent working team and work structure, and plans to extend its reach to other Southeast Asian and partner countries in the future.
PayDii, which is KPG’s first project, can accommodate links with the greatest number of mobile banking applications under acceptable security standards.
According to the Electronic Transactions Development Agency (ETDA), the value of Thailand’s e-commerce market in 2018 reached Bt315 billion and the e-commerce market is expected to grow average of 22 per cent by 2022.
KGP managing director Takerng Osirichaivet said online merchants can directly collect the requested payment by sending buyers a screenshot of the payment amount.
Buyers then tap the “Payment” button on their mobile banking application, or they can make payment by credit or debit card without providing their bank account number to the merchant, since such accounts are already linked with the system.
