Bangkok--22 Jan--Central Pattana
- Engaging in national level cooperation to provide convenience for people nationwide by bringing QR code payment services from leading banks to stores in CentralWorld, CentralPlaza and CentralFestival
- Marking the first quarter of 2018 by installing QR code readers in over 4,000 stores at CPN shopping centers. First phase will be for smaller shops and second phase will be for medium and large anchor stores, hoping to attract 10% more customer traffic to the shopping centers.
- Thai retail expected to grow by further 10-20% and number of mobile banking users to reach 30 million
Central Pattana Plc (CPN), the largest retail real estate developer in Thailand, led by Pakorn Partanapat, Chief Operating Officer along with six leading partner banks in Thailand: Bangkok Bank, Bank of Ayudhya, Government Savings Bank, Kasikorn Bank, Krungthai Bank and Siam Commercial Bank, have announced new cooperation to enhance the cashless shopping experience with QR code payment services at CPN shopping centers nationwide, under the concept of 'The New Chapter of Cashless Life'. Together, they will develop Thailand's retail industry to reach the goal of Thailand 4.0 and fulfil lifestyles of new generation consumers with 'Digital Mobility', where everything is managed by digital systems.
Pakorn Pattanapat, Chief Operating Officer of CPN said: "Today, while the whole world is very excited about digital disruption, the retail industry has to adapt not only with trade platforms but key transactions such as payment methods, which are also on the way to the full digitalization with innovative payment methods like QR codes that facilitate both sellers and buyers. CPN, as a shopping center developer and a leader in the Thai retail industry, is committed to offering the best retail experience for both consumers and entrepreneurs. Today, we are joining hands with six leading banks and merging the power of great collaboration between the retail and financial sectors to fully drive Thailand towards a cashless society by installing and distributing QR code payment services in all stores in CPN shopping centers nationwide (CentralWorld, CentralPlaza and CentralFestival)."
Pakorn continued: "This collaboration is based on a 'Partnership Strategy' where we will join forces to support each other's businesses. CPN, the largest retailer, with 37 years of experience, will bring its strengths and knowhow to share with partner banks to strengthen this partnership. CPN's strong points include:
Largest Physical Retail Platform: CPN has developed and operates 32 branches of CentralWorld, CentralPlaza and CentralFestival, with a total GLA of 1.7 million m2, and is likely to expand every year. The customer traffic at all branches combined is over one million people per day. We intend all of our shopping centers to be a 'Center of Life' for people everywhere we are situated. That's why CPN shopping centers are the largest 'touchpoint', where many target consumers can access and use QR code payments.
Best Retail Experience and Engagement: We have applied 'customer centric' principles in our operations so every branch of our shopping center offers 'Best Retail Experience' and 'Engagement' to a level of what we call 'Micro Moments'. This means that our presence will be in every moment of a customer's life. One of the most important tools is to create events that attract and meet customers' lifestyles. Each year, all of our shopping centers, host more than 1,000 events combined. These events welcome both large and small businesses into our sales space. This gives us a large network of over 4,000 sellers and shop operators nationwide. They are the main target to initiate QR code payments to ease shopping on a daily basis.
CRM Innovation Strategy: CPN has developed 'Innovation CRM', focusing on customers' shopping behaviors, interests and demands through campaigns of 'The 1 Card', aiming to provide new and seamless shopping experiences. We use an O2O2O (Online-to-Offline-to-Online) marketing strategy and customized marketing to access target groups for a more precise marketing approach. Our 'The 1 Card' program currently has over 12 million members, covering both Thai and foreign customers. Together with partner banks, we will work to offer promotions and privileges based on big data derived from this program to spur payments through QR codes."
From the first quarter of 2018 onwards, CPN and partner banks will continue to install QR code payment readers in a total of 4,000 target stores at CPN shopping centers nationwide. In the first phase, we will focus on small shops and entrepreneurs such as 822 fashion brands, 805 IT and electronics brands, over 1,500 kiosk-type shops, miscellaneous and smaller tenants, 800 restaurants in our 'Food Park' at over 30 shopping center branches in addition to many leading brands such as Giordano, Guy Laroche, Swatch, Havaianas, Kyo Roll En, Simply W, Mezzo Coffee, Sfree, DOITUNG, Poli-Chem Car Wash, The Rink Ice Area and Pororo Aquapark Bangkok etc.
"For the next phase, throughout the year we will expand the use of QR code payments to CPN's major partners and anchor stores. Together with the partner banks, we will launch promotional campaigns and privileges to persuade people to use this payment method. I believe that using QR codes at the stores in CPN shopping centers will benefit every party involved in the form of '5 Wins':
1) Consumers – Having convenience in shopping and benefits from promotions and privileges.
2) Store Operators – Having ease of income management with the potential to expand their business and grow their business more easily along with the ability to check databases with the banks.
3) Retail and shopping center businesses – The retail market is likely to grow by a further 10%-20% and CPN expects to help create at least 10% more customer traffic at every branch of CPN shopping center.
4) Finance and Banking industry – Reducing the cost of cash services, providing quicker financial services to customers and increasing opportunities to further access consumers' shopping behaviors in addition to expanding the mobile banking customer base, which is expected to reach 30 million users.
5) Nation – Reducing economic costs such as lowering the need for coin and banknote production, reducing the problem of counterfeit money and possibly spurring people to spend more money and supporting the economy and further business growth," Pakorn concluded.
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Executives Names (from left)
Prassanee Ouiyamaphan, Bangkok Bank Executive Vice President
Thakorn Piyapan Head of Krungsri Consumer Group
Isara Wongrung, GSB - Senior Executive Vice President, Personal Customer Group
Pakorn Partanapat, Chief Operating Officer of CPN
Supaneewan Chutrakul, KBank First Senior Vice President
Oranut Siraprapa First Executive Vice President - Head Of Retail Strategy Product & Segmentation Group - KTB
Pimjai Tongmee, SCB Executive Vice President, Payments Product Sales and Delivery Division