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Ksher wins Excellence Service Award from WeChat Pay

Aug 23. 2019
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By THE NATION

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Fintech company Ksher won the Excellence Service Award at WeChat Pay Overseas Partner Conference 2019, reinforcing its partnership with WeChat Pay and its financial innovation services designed to cater to today’s cashless society, the firm announced in a press release on Friday.

A Nielsen 2018 survey of Chinese mobile payments in outbound tourism shows that about 60 per cent of Chinese tourists travelling to various countries relied on mobile payment, while about 90 per cent of them asked local shops whether they would accept payment for products via smartphones. The survey shows that the behaviour of today’s Chinese tourists reflect the fact that their society has become largely cashless.

“Ksher is a fintech company that started with providing financial transaction services between Thai shops and Chinese e-wallet applications WeChat Pay and Alipay,” said Ksher Payment president Premchai Kusolrerkdee. “Ksher solutions make it easy for Thai shops to receive payments from their Chinese customers. Chinese tourists can pay in yuan while merchants receive baht.” 

In addition, Ksher has promotion campaigns to boost sales all year around, such as bonus and rebates to customers to encourage Chinese buyers to make purchases more easily or increase per-bill amounts, he said.

“Ksher has also developed a new system that includes e-wallet payment platforms used by Thai customers such as PromptPay and TrueMoney, with the aim of supporting SMEs amid an increasingly cashless society,” Premchai said.

According to the company, Ksher provides six types of payment services in the country, based on current platforms and needs of the retail business:

1. Static QR code signs for customers to scan and make instant payments. 

2. Ksher’s EDC machines, which are best for medium-sized shops with many branches that need to print out receipts for customers.

3. A POS integration system that manages operations at point of sale and other front-office tasks of the shop in a convenient way with reduced errors. The system also allows for an easy management of multiple outlets of the shop chain.

4. A dynamic QR code solution that connects APIs with shop websites, allowing customers to make online payments by scanning QR codes on the websites. 

5. An API integration and mobile payment system that caters to shops with their own mobile applications. Customers make purchases by clicking the payment button and entering a password without having to scan a code. 

6. A Ksher Boss mobile application for the back-office cashier system. 

Ksher said it provides financial transaction solutions to a host of businesses, including large shopping malls such as King Power, MBK, Premium Outlet and Asiatique the Riverfront, as well as renowned retail shops and restaurants such as Jim Thompson, Boyy, Charles & Keith, Anello, Miniso, Godiva, Iberry, Kub Kao Kub Pla and After You.

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