Bangkok Bank expects initiative with AIS 5G to boost debit card users
Bangkok Bank, Thailand's leading financial services provider, is partnering with telecom operator AIS 5G to increase domestic spending by combining debit card payment service with earning AIS points.
This collaboration is expected to help Bangkok Bank add another 6 million debit card users within the next five years, while also assisting AIS in gaining customer loyalty.
Shoke na Ranong, executive vice president and credit card division manager at Bangkok Bank, said at a press conference on Monday that the collaboration had resulted in the launch of the bank's first co-branded card, "Be1st Digital AIS Points."
He explained that the main idea is to provide cardholders with a high-security system that allows them to shop online while earning AIS points to redeem for rewards as AIS loyalty programme members.
He said that it catered to the habits and lifestyles of today's consumers while also providing value for every online buck spent.
He pointed out that this joint debit card programme would enable the bank to offer good products to AIS' customer base of more than 46 million subscribers.
"We are confident that the card would attract interest from customers, and we expect at least 6 million applications within five years. This will help us achieve our goal to become a leader in digital payment solutions in line with the development of Thailand’s digital economy,” he said.
There are currently 9 million debit card holders. Shoke estimated that the partnership with AIS would add 2 million debit card holders over the next 12 months through this joint programme.
Despite the fact that mobile banking is driving more people to mobile payments, he expects a steady demand for card payments.
Payment by debit card is more convenient and feels safer for some people, he explained.
"This card covers various transactions via Bangkok Bank Mobile Banking, including withdrawals, transfers, and payments via ATM as well as contactless payments," he said.
Tee Seeumpornroj, AIS' chief financial officer, added that the company's collaboration with Bangkok Bank has reaffirmed its goal of working in customer care through the AIS points programme. He said it would bring the potential of the intelligent network to create opportunities for Thai people to access financial services and earn AIS points from online shopping by using the Be1st Digital AIS Points debit card.
He explained that by using AIS services, customers would be able to earn points from its partners.
Customers can also use their points at AIS partner stores, which cover all digital lifestyles, with over 1.8 million stores nationwide and another 20,000 leading brands in department stores, retail stores, street food, and food carts across the country on the myAIS app.
“We believe that this collaboration would benefit all parties involved, in addition to providing customers with a digital shopping experience. This includes AIS and Bangkok Bank customers, as well as merchant partners in the AIS points network across the country," Tee said.
He added that for every 200 baht spent online using the Be1st Digital AIS Points card, one AIS point would be awarded, for a total of 100 points per card per month. Customers can redeem points for a variety of benefits, such as phone or internet charges, Line stickers, food and beverage discounts, and discounts on leading brands.