Bangkok--15 Jan--Bangkok Bank
Bangkok Bank and Kerry Express announced a deal to be an 'Exclusive Financial Partner' in online payment systems. In addition to strengthening their e-commerce operations it will attract more 'Bualuang mBanking' users. Kerry is confident that this deal will increase its business capabilities and strengthen its position as Thailand's leader in express delivery services.
Bangkok Bank President Chartsiri Sophonpanich said that the bank has signed an MoU as an Exclusive Financial Partner with Kerry Express Thailand, a leading private express delivery company in Thailand, to jointly develop integrated financial services that meet the needs of today's consumers who prefer transactions via digital channels. The agreement will also support government policies for Thailand to become a cashless society.
The Bank has established a payment system via PromptPay QR Code to support various types of payments such as express package deliveries at Kerry Express Parcel Shops. It has also developed a Cash on Delivery (COD) service, which will provide growth opportunities for e-commerce businesses in Thailand. Thailand's e-commerce has been growing by 8-10 percent a year and now exceeds 3.05 trillion baht. The Bank and Kerry Express also plan to jointly develop an e-payment solution to better meet the needs of consumers.
"In addition to jointly developing a payment system, this partnership will enable the Bank to better reach SME in the retail and wholesale business. This sector is a pillar of the Thai economy with credit value is as high as 1.34 trillion baht, or equivalent to one third of the total SME loan value. Expanding these services will help the Bank to expand its credit business and support SME businesses," added Mr. Chartsiri.
To emphasize the benefits that customers will receive from the collaboration between Bangkok Bank and Kerry Express, the Bank has launched a special campaign to provide 'SMEs small loan' for customers who send goods through Kerry Express with a maximum credit limit of 2 million baht and minimum interest rates 8% without guarantees.
Mr. Alex Ng, Chief Executive Officer of Kerry Express (Thailand), said the partnership with Bangkok Bank to develop e-payment solutions will enhance the company's express delivery capabilities. Kerry Express is a far leader in express parcel deliveries in Thailand. It ships millions of parcels a day via its tens of thousands service locations and thousands distribution centers across the nation. As the largest player in the market, Kerry Express has been the leader in innovation since 2006, introducing a cash-on-delivery service, and Sameday delivery within the same province and the service points at BTS stations.
The company has continuously developed services to meet customers' needs. Thanks to the support of Bangkok Bank, Kerry Express can now provide parcel deliveries and cash-on-delivery services via QR Code. This service allows customers to make payments more conveniently, while reducing cash management costs. Customers can register their items to-be-delivered and pay for delivery fees online and print the delivery slip from home before taking the parcel to the Kerry's service locations. This significantly increases convenience and reduces waiting time.
"We believe that, under this partnership, we will be able to create financial services that respond to our customers' needs. The service will provide parcel deliveries more conveniently and remove barriers to business growth while increasing our customers' competitiveness. This will greatly benefit the growth of Thailand's e-commerce in general," concluded Alex Ng.