Bangkok--9 Jul--KASIKORNBANK
KASIKORNBANK and PTG Energy PCL are introducing the PT Max Fleet Card, for convenient, secure fueling at PT fueling stations across the country—no need to carry cash, verifiable payment record, and credit up to 55 days. KBank and PTG have set a five-year target of 16,500 cards issued with expenditures of 25.6 billion Baht.
According to Mr. Chatchai Payuhanaveechai, KASIKORNBANK Executive Vice President, the PT Max Fleet Card is being offered to transportation companies and other major PT customers who refuel in large amounts.
The Card is for corporations, government agencies and state enterprises, and will be assigned either to specific vehicles or to administrative personnel, with or without specifying a vehicle. The card may be used to purchase fuel or other specified goods through EDC credit card readers only at PT stations nationwide. The corporation or agency may specify units of Baht or liters and may specify a daily, weekly, monthly or per-use limit on card expenditures. Customers can conveniently access monthly expenditure reports at https://kbankfleetcard.kasikornbank.com /fcweb.
Beyond cooperation on the PT Max Fleet Card, KBank is providing PTG short-term working capital and a billion Baht in loans for purchases of fuel transport vehicles. KBank is also the exclusive provider of EDC credit card payment services at all PT fueling and dealer service stations. The Bank is targeting 16,500 PT Max Fleet Cards with 25.6 billion Baht in expenditures over five years.
According to Mr. Pitak Rajkijprakarn, PTG Energy Chief Executive Officer, PTG has been growing steadily, with 647 fueling stations nationwide, Thailand’s third largest. The number is increasing rapidly in response to rising customer demand, particular from the transport industry, government agencies and state enterprises, which together consume as much as 50-60 million liters of fuel a month. PT hopes to expand its customer base among these entities for market share of 5.6 million liters a month, or 9.4-11.2 percent, by the end of 2014, and to pump 22 million liters a month, for a 36 percent share of the transport industry market by 2018.
Aside from meeting the demand for fuel, PT is expanding its customer base through providing greater convenience to its corporate customers. The PT Max Fleet Card will improve the efficiency of service, increase payment options and reduce the risks inherent in utilizing cash.
Given KBank’s security systems, trusted nationwide, and PT’s quality fuels and services, the company is confident of a positive customer response from long-time corporate customers and in the ability to meet goals for rapid expansion among new corporate customers, said Mr. Pitak.