Bangkok--27 Nov--KASIKORNBANK
Thailand’s leading credit card issuer, KASIKORNBANK, and the world’s top card service provider, UnionPay International (UPI), are introducing UnionPay-partnered credit cards in Thailand for Thai UnionPay cardholder spending in China, Hong Kong, Macau and in over 140 other countries, wherein 5x the normal KBank Reward Points are being offered on UnionPay card use. KBank expects to see 100,000 KBank UPI credit cards issued within one year.
According to KASIKORNBANK Chairman Mr. Banthoon Lamsam, KBank and UPI — China’s largest credit and debit card issuer — are launching the KBank UnionPay Credit Card for use on the Mainland, as well as in Hong Kong, Macau and over 140 other countries.
The target customer groups for the KBank UnionPay Credit Card will be Thai businessmen doing business in China, Thai students studying there, Thai tourists going on holidays in China, Hong Kong and Macau, as well as Chinese businessmen operating in Thailand. The Bank aims to issue the largest number of UnionPay credit cards in Thailand or at least 100,000 cards within 2014.
KBank UPI credit cardholders will be offered many privileges, e.g., 2x KBank Reward Points on card spending in China, special foreign exchange rates on card spending when exchanging Chinese Yuan (CNY) or Hong Kong Dollars (HKD), special discounts at over 100 golf clubs and 90 hotels in Thailand, plus many discounts/special offers from UPI’s participating merchants worldwide.
When applying for KBank UnionPay Credit Card starting today and until February 28, 2014, cardholders will be given 5x KBank Reward Points on their spending in China, Hong Kong and Macau, as well as 2x KBank Reward points for their spending in Thailand. This privilege will last two statement periods for each cardholder.
With the KBank UnionPay Credit Card, UPI will be able to extend their credit card business in Thailand along with KBank, Thailand’s major credit card issuer, with steady growth that has sent total K-Credit Card spending to the top of Thai financial industry card performance in the past year.
Mr. Banthoon added that this new credit card emphasizes KBank’s determination to enhance our payment services and achieve business success in China with regard to more credit and debit card accepting merchants, higher ATM withdrawals and KBank UnionPay Credit Card use.
Established in 2002, UPI is China’s largest credit and debit card issuer with a cardholder total that is the world’s highest at 3.83 billion; merchants accepting UnionPay cards total 8.6 million worldwide. Over 1.5 million ATMs globally also accept its cards. In Thailand, UPI already has over 100,000 card-accepting merchants, and UnionPay cardholder cash withdrawals are now available on 44,000 ATMs here.
KBank and UnionPay launch KBank UnionPay Credit Card
Recently at KASIKORNBANK Phahon Yothin Main Branch, KASIKORNBANK Chairman Mr. Banthoon Lamsam, and Mr. Shi Wenchao, President of China UnionPay Co., Ltd., signed an agreement launching the KBank UnionPay Credit Card offering payment services for Thai UnionPay cardholders in China, Hong Kong, Macau and over 140 other countries. KBank expects to issue at least 100,000 KBank UnionPay Credit Cards within one year.