Bangkok--26 Jul--KASIKORNBANK
KBank customers won the highest prizes in the second Debit Card Lucky Drawing in both categories – cardholder and card accepting merchant – and also have claimed the most winnings for the second month in a row, or 459 prizes consisting of 455 prizes for cardholders and 4 prizes for card accepting merchants, with a combined value of THB4,972,000 out of a total of THB5,750,000 on offer.
Mr. Amorn Suvachittanont, Senior Vice President and Head of the Retail Payment and Foreign Exchange Products Management Department, stated that KBank is upholding their leadership in the debit card market and currently has a 40 percent market share. As for card accepting merchants, KBank has recorded a share of 37 percent of the market. He also said that, under the National e-Payment Program, Thai consumer spending is approaching a cashless society where physical cash will gradually diminish. To promote that initiative, public education toward knowledge and understanding of the new system is important, and the Debit Card Lucky Drawing program assumes a role in this by encouraging cashless transaction behavior by cardholders. Cardholders are encouraged to use their cards for spending as they have a chance to win a prize, while also learning to enjoy the convenience and safety of card usage.
"Even though this Ministry of Finance program has been in place for only two months, the number of debit card spending transactions has increased 30 percent over-year. KBank customers won the first prizes of one million Baht each in both categories, i.e., cardholder and card accepting merchant. With a total of 459 prizes totaling THB4,972,000, we are the bank with the most prizewinners for the second month in a row", said Mr. Amorn.
Aside from a chance to win prizes in the Ministry of Finance's Debit Card Lucky Draw program, KBank customers get other privileges from us, too. K-Debit Cardholders can get a 50-Baht cashback instantly when spending with their debit card at least once a week for three straight weeks by August 31, 2017. For each THB1,000 spent on a single sales-slip purchase using their K-Debit Card by August 31, 2017, they will also be entitled to one drawing entry to win 17 big prizes, i.e., package tours to New Zealand as part of our "Route to the Southern Hemisphere" campaign. Our card accepting merchants will be exempted from sales slip fees and/or monthly EDC maintenance fees at THB100/machine, as well as the equipment insurance fee for 2017 at THB3,000. They get a maximum interchange fee rate of 0.55 percent, as well, and tax privileges, too. Card accepting merchants will additionally be allowed to double their MDR costs (debit cards only) in tax deductions.
During 1H17, K-Debit Cards in use totaled 11.7 million and the ratio of K-Debit Card payments via EDC to online payments was 80:20, with the highest payments being made at fuel service stations, supermarkets and restaurants. K-Debit Card and K-Credit Card spending via EDC and mPOS totaled THB220 billion.