Bangkok--10 Aug--KASIKORNBANK
KASIKORNBANK reports a 20-percent surge in Thailand's e-Commerce market wherein more than 500,000 players are present, and announces an initiative to provide support for Thai entrepreneurs by collaborating with national and regional partners in the "Borderless Business on Digital Platform with KBank" seminar, aimed at enhancing competitiveness and fortifying potential in digital financial transactions, covering upstream-to-downstream processes.
Mr. Pakorn Partanapat, KASIKORNBANK Senior Executive Vice President, said that over the past three years e-Commerce in Thailand has grown to about 500,000 businesses, expanding more than 20.0 percent annually through various channels, e.g., social media, websites and online marketplaces, while 14.87 million Thai consumers have bought products online. The value of the direct-to-consumer e-Commerce market is expected to reach 220 billion Baht in 2015. Technology advancement, internet access, rising smartphone use and sophisticated online payment systems are all believed to be conducive to e-Commerce growth.
"KASIKORNBANK, as the leading digital bank, regards Thai business operators as important drivers of the e-Commerce system, and KBank is determined to provide full support for their sustainable growth. KBank has been forming alliances with national and international partners, who have specialization and have been successful in the e-Commerce market via various platforms. The initiatives stem from the success of the collaboration between KBank and Alibaba.com that started last year, providing support for Thai businesses wishing to venture into the Chinese e-Commerce market. KBank also collaborates with Alipay and King Power International in facilitating online duty-free shopping for Chinese tourists, prior to picking up their orders. In August, KBank and partners are organizing the "Borderless Business on Digital Platform with KBank" seminar, aimed at demonstrating a fortified e-Commerce ecosystem and allowing participants to observe all activities in upstream to downstream processes — from marketing, sales and distribution to managing capital flows via online channels. The seminar will provide businesses knowledge to establish a secure e-Commerce venture so they can withstand more intense competition, and create exponential value growth for entrepreneurs and economic value for the country," said Mr. Pakorn.
Speakers at the "Borderless Business on Digital Platform with KBank" seminar include representatives from Alibaba.com, who will offer an overview of e-Commerce and the global outlook on online trade, as well as major factors that are conducive to a successful e-Commerce business. Other speakers are from outstanding online traders including Rakuten TARAD.com, GrabTaxi, Thai Ao Chi Fruits, and service providers, e.g., ReadyPlanet, Shipyours, United Thai Logistics, Facebook and Google, who will share information about exploring business opportunities and lucrative e-Commerce business expansion.
Mr. Pakorn also said that KBank is immersed in developing the digital channel, a main part of the Bank's strategies, since this is a high-potential platform that will lead to even more substantial innovations facilitating brand-new services. In order to accommodate rising numbers of customers in the future, KBank recently launched a new core banking system that is superlatively advanced.
KBank is equipped with advantageous tools for e-Commerce businesses on digital platform, naming K-Mobile Banking PLUS and K-Cyber Banking, with more than 7.2 million internet and mobile banking users (as of June 2015). Moreover, K-PowerPay enables effortless credit card payments; at present, about 21,000 shops have adopted K-PowerPay, generating about 3 billion Baht of transactions each year. Furthermore, K-Payment Gateway secures an average of 83 billion Baht annually.
Mr. Pakorn added that facilitating readiness for the Thai business sector and developing tools on digital platform to accommodate e-Commerce businesses will enhance all sectors to be prepared for any circumstance under the government's digital economy policy, as well as promoting continuous growth for digital businesses.