UnionPay International Partners Krungthai Card to Enable 3D Se-cure Technology in Thailand

Stocks News Friday October 15, 2021 16:13 —PRESS RELEASE LOCAL

UnionPay International Partners Krungthai Card to Enable 3D Se-cure Technology in Thailand

UnionPay International (UPI) announced a partnership with Krungthai Card Company (KTC) to jointly enhance e-Commerce sites with the latest 3D Secure (3DS) authentication technology in Thailand, the first market in Southeast Asia where eCommerce sites are enabled with 3DS tech-nology. With this collaboration, UnionPay aims to make the digital payment experience more seamless and quicker for various stakeholders including merchants, issuers, consumers and various solutions providers. As part of the launch campaign, UnionPay Credit Cardholders enjoy up to 3,000 baht in cashback at participating online stores from now to 30 November 2021.

The 3DS authentication technology in Thailand enhances the digital payment experience by veri-fying the transactions using 3DS technology which promotes frictionless consumer authentica-tion and enables consumers to authenticate themselves with their card issuer when making card-not-present e-commerce purchases. The 3DS messaging protocol could help to minimize the potential checkout abandonment while at the same time, card issuers can improve the seam-less authentication experience of a transaction, providing for a safer and more comprehensive data exchange. UnionPay Cardholders can also enjoy a more convenient and safer payment transaction.

Based on a survey conducted by Wunderman Thompson from March to April 2021 with over 28,000 consumers across 17 markets, The Future Shopper Report 2021 revealed that Thais topped the chart with 94% indicating online shopping as their lifeline during the COVID-19 lock-down. 90% of Thais mentioned they will use digital channels more this year compared to 2020, and Thais again topped the chart with 94.8% wanting better products, services and experiences for online shopping.

Similarly, the trend of increased in online spending by Thai consumers is also in line with with 38% increase year-on-year in online payment transaction volume by UnionPay Cards issued in Thailand, comparing the first six months of 2021 and the same period last year.

Mr. Huiming Cai, General Manager, UnionPay International Southeast Asia said "As digital pay-ments continue to gain popularity with more consumers prioritizing social distancing and hygiene, more consumers are adopting cashless payment by shopping online. UnionPay, being in the fore-front of innovative payment continues to enhance payment experience by improving the eCom-merce experience for all stakeholders from consumers, merchants, issuers to solutions provid-ers. In addition, UnionPay Credit Cardholders enjoy promotions at various websites enabled with 3DS technology, giving them more value in their purchases as they tighten their belt".

Please refer to the Table A for a list of privileges for UnionPay Credit Cardholders at participating online merchants

Table A: Privileges for UnionPay Credit Cardholders

Online Merchants Mechanics
www.724.co.th THB 100 cashback with min. spend of THB 800 per transaction
www.aurora.co.th THB 1,000 cashback with min. spend of THB 10,000 per transaction
www.bananarun.com THB 250 cashback with min. spend of THB 2,000 per transaction
www.dohome.co.th THB 250 cashback with min. spend of THB 2,000 per transaction
www.msig-thai.com THB 250 cashback with min. spend of THB 2,000 per transaction

Remark: Limited to 1 redemption per card per day, maximum of THB 3,000 per card per cam-paign period (combining all merchants)

For more information, please visit UnionPay Thailand Facebook page at https://www.facebook.com/UnionPayThailand

About UnionPay International
UnionPay International (UPI) focuses on the growth and support of UnionPay's global business. In partnership with more than 2,400 institutions worldwide, UPI has enabled card acceptance in 180 countries and regions with issuance in 70 countries and regions, covering over 63 million merchants and about 2.9 million ATMs. UnionPay provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay Cardholders and merchants.

In Thailand, UPI partners with Bangkok Bank, Bank of China, ICBC Bank, Kasikorn Bank, Kiatnakin Bank, Krungthai Bank, LH Bank, Krungthai Card Company, and AEON Thana Sinsap to provide a wide array of payment products and services. For more information, visit www.unionpayintl.com/th.

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