Bangkok--3 Feb--KASIKORNBANK
KASIKORNBANK and CP ALL are introducing “K-Debit 7 PURSE” – a universal debit card that can be used conveniently at more than 8,000 7-Eleven branches nationwide, as well as other shops worldwide. Complete privileges are also offered by KBank and 7-Eleven, available from March onwards. The Bank aims to see at least 1 million debit cards issued under this program.
According to Mr. Pakorn Partanapat, KBank Senior Executive Vice President, KBank – as a leader in the debit card market – continues to enhance its “universal debit card” product, a single card for use anywhere in all financial and daily spending matters, including traveling, tourism, and shopping either online or at physical stores. Special benefits are also provided in accordance with target customers’ individual lifestyles.
For KBank and CP ALL Pcl., operator of 7-Eleven convenience stores, their introduction of the “K-Debit 7 PURSE” makes KBank the first bank in Thailand to launch a co-branded debit card, serving also as an electronic purse, with the convenience store chain. In addition, KBank debit cardholders are thus offered 24-hour daily spending convenience to meet their needs, at more than 8,000 7-Eleven outlets nationwide. The K-Debit 7 PURSE can also be used at any other stores at home and abroad, as well as online shopping. Card applications will be accepted from March onwards. The Bank has targeted issuance of at least 1 million debit cards under this program by year-end.
Mr. Pakorn added that the 2014 debit card market grew significantly, with total debit cardholders of 45 million, and spending of approximately 100 billion Baht. Spending via K-Debit Card amounted to 40 billion Baht, or around 40 percent of the total, maintaining KBank’s top position in this market. To date, the Bank has successfully issued new debit cards including K-My Debit Card and K-Max Debit Card in responding to customers’ demands in terms of functional and emotional benefits.
According to Mr. Kosa Pongsupath, Senior Vice President of CP ALL Pcl. and Deputy Chief Executive Officer of Thai Smart Card Co., Ltd., a subsidiary of CP ALL Pcl., which operates 7-Eleven outlets, the convenience store has more than 8,000 branches nationwide, with total customer traffic of at least 10 million persons per day. Seeing fast-growing debit card spending, the company joined with KBank to develop the K-Debit 7 PURSE as an innovation for customers’ spending convenience. Cardholders will be eligible for benefits of the 7-Card, including buying goods at a discount, and earning reward points redeemable for cash or premium gifts, as well as other privileges from subsidiaries of CP ALL, e.g., Book Smile, Counter Service, Twenty Four Shopping, Exta Plus, and Kudsan Bakery & Coffee @ 7-Eleven. The card can be used at any of 24,000 outlets under the Smart Purse network (including those at gas stations), Don Muang Tollway fees, and others. It is expected that the new card will expand the 7-Eleven customer base to cover those who are not regular customers of the convenience store.