Enabling Thai merchants to accept multinational payments from tourists from mainland China, Hong Kong SAR, Malaysia, and South Korea.
THAILAND – KTC in partnership with Ant Group has launched ‘Alipay+‘, a suite of global cross-border digital payment and marketing solutions, on KTC’s payment gateway. This latest innovation aims to expand KTC’s Thailand merchant business and accommodate spending from Asian tourists to Thailand through 3 new Alipay+ partner mobile wallets: AlipayHK, Touch ‘n Go eWallet, and Kakao Pay. KTC’s payment merchant business is set to grow by 20% this year. King Power and The Mall are 2 leading partners in duty-free and retail businesses, that have joined forces and are ready to be the first to offer Alipay+ payment service on the KTC system.
Ms. Naowarat Keratikasemsook, Head of Merchant Acquiring, “KTC” or Krungthai Card Public Company Limited, stated, “KTC has expanded its partnership with Ant Group, the owner and operator of Alipay and one of the world’s leading digital open platforms, to integrate ‘Alipay+’, that will enable merchants in Thailand to accept payments via a variety of mobile wallets. Merchants simply need to make a one-time connection to the system to be able to reach up to 1 billion consumers in Asia, offering them a familiar, secure, seamless, and entirely automated payment flow, rather than manually connecting one-to-one. When customers travel to Thailand and already have a mobile wallet in the Alipay+ ecosystem, they are able to use their local mobile wallet to pay merchants in Thailand immediately.”
“Currently, KTC member merchants can accept payment for products or services via mobile wallet QR codes in the Alipay+ ecosystem. This includes Alipay (for Chinese citizens) which launched in Thailand since 2015 as well as the recent addition of 3 new mobile wallets that support transactions in Thailand, namely AlipayHK (Hong Kong SAR), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia).
All 4 mobile wallets meet the needs of the top 4 foreign tourists who travel to Thailand which include Malaysia, China, South Korea, and Hong Kong. These tourists totaled 2.9 million in number, accounting for one-third of the total 8.6 million tourists who visited Thailand in the first four months of this year (January-April 2023, information from the Ministry of Tourism and Sports).”
“KTC and Ant Group have been partners since 2015. The start of the partnership began with the Alipay payment service (for Chinese citizens) and we recently expanded through Alipay+, which will allow merchants to accept a wider range of digital payments with convenience and security as a priority. KTC member merchants who use KTC’s Alipay+ payment service will also be eligible to participate in the ‘Alipay+ Scan for Offer’ promotion whereby Alipay+ mobile wallet customers will get access to various discounts that will in turn increase selling opportunities for the merchants. In the second half of this year, Business operators who use KTC’s Alipay+ payment service include King Power, The Mall Group, Boots Thailand, and many other merchants.”
Mr. Sittipong Kittiprapapong, General Manager, Global Merchant Partnership, Thailand Ant Group, says “We continue to strengthen our partnership with KTC by helping them integrate Alipay+ across their merchant network and support the digitalization efforts of Thai businesses. Asian travelers can now enjoy easier payment options at some of their favorite shopping destinations like King Power and malls under The Mall Group. Together with our local partners in Thailand, we will continue to help local businesses connect with international visitors, ensuring we drive more growth opportunities for merchants while enhancing the travel experience here.”
Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enablebusinesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods. Our services support these businesses to reach 1 billion regional and global consumers, through one-time integration and simple technical adaption. In addition to payments, Alipay+ also provides Alipay+ D-store and other marketing solutions to help merchants reach and engage with consumers pre-trip. With Alipay+, travelers can pay with the familiarity of their home mobile wallet and in their home currency, while enjoying competitive FX rates.
Mrs. Kanyaratana Chok-oon-kit, Chief Strategy and Financial Officer, The Mall Group, stated, “We would like to commend KTC for its vision to continuously use technology to develop financial products and services, thus giving KTC the image of a modern financial service provider that responds well to the lifestyles of today’s consumers. We would like to express our appreciation for honoring The Mall Group as a partner to endorse the latest payment system like Alipay+ to serve customers of The Mall Group and its affiliates.”
“The Mall is a leading retail operator serving many Thai and international travelers from all over the world. Now that tourism is back in full swing, creating an impressive shopping experience and providing convenient, fast, and safe services is therefore our priority. Our partnership with KTC expands our payment channels for our customers to have access to Alipay+, enjoy its fast and convenient services, unique technology, and elevated safety standards than ever before. These factors make us confident that we will greatly satisfy our customers. We are also delighted to collaborate with KTC to enhance our services to modern customers of the future, and to strive for success together. We believe this cooperation will continue to happen continuously and sustainably.”
Ms. Naowarat added, “During January to May 2023, the payment volume of credit cards and Alipay Wallet in KTC merchants increased by 27% equal to over 40 billion baht. This is in line with the economic outlook and tourism industry in the country which continues to recover. By the end of 2023, the payment volume of credit card, Alipay Wallet and Alipay+ will grow by 20% as targeted. KTC aims to expand its merchant base including those that accept credit cards, Alipay, and Alipay+, to meet the needs of cross-border payments to cover more of both Bangkok and tourist target areas such as Chiang Mai, Pattaya, Chonburi, Phuket, Hat Yai, and more. The strengths of KTC’s payment services lie in security,convenience, and most importantly, KTC member merchants will receive next day payments (T+1) with 24/7 service. In addition, KTC ensures the safety of information of merchants and related parties as its services are certified with the ISO/IEC 27001: 2013 information security management standards and ISO/IEC 27701: 2019 personal information management standards.”
Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.