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TCC and KBank prepare merchants for e-payment

Feb 28. 2018
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By The Nation

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The Thai Chamber of Commerce (TCC) has joined forces with Kasikornbank (KBank) to promote privileges of TCC members nationwide through its “upgrade of provincial quality product certification project via e-payment” programme.

The aim is to promote spending in provincial areas and drive Thailand’s overall economic growth in line with the “Trade and Services 4.0” objectives, aiming to extend the network to cover 4,500 merchants nationwide, the partners said 

Kalin Sarasin, chairman of the TCC and the Board of Trade of Thailand, said that e-payment transactions have remarkably increased, changing consumer behaviour and future business operations, especially for SMEs. For this reason, entrepreneurs directly interacting with their customers needed to adjust their business approaches to catch up with new technologies.

A statement said: “TCC and provincial chambers of commerce nationwide have carried out various projects with their networks to promote the privileges of their members, while strengthening TCC to become a leading organisation, which is well-recognised and modernised, ready for the digital economy. The effort is in line with TCC’s Trade and Services 4.0 initiative and in accordance with the Thailand 4.0 policy of the government.”

Predee Daochai, KBank president, said that the cooperative effort to introduce the programme was another milestone to drive Thai entrepreneurs toward the 4.0 era with the use of QR Code payments. The move would enhance management efficiency and provide added business opportunities for participating merchants.

“KBank will have standardised QR code system installed at 4,500 stores under the quality product certification scheme in provinces across the country,” Pradee said. 

“Merchants will generate a standard QR code of their own to accept payment by scanning via the mobile banking application of any bank. 

“The QR code payment is thus an alternative channel that comes with both convenience and security, thus reducing our reliance on cash.”

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