LINE BK partnered with Aurora to offer the "Gold for Cash" service, Allowing clients to exchange gold for cash while those qualified through LINE OA will earn additional 2% credit from the gold appraised value
LINE BK, Thailand's first social banking platform, has partnered with Aurora, a leading gold jewelry retail company, to offer LINE BK clients with "Gold for Cash" (Thong Ma Ngern Pai), a service for gold exchange for cash, in order to increase their access to financing. This collaboration combines the strengths of LINE BK, a leader in online lending services and Aurora's expertise in retail gold business. From now until October 31, 2023, the service will be offered to a specific group of clients through the LINE Official Account of LINE BK, with an additional 2% credit from the gold appraised value when acquiring the gold pawn service at Aurora storefronts and "Gold for Cash" stores for the duration of the stated term.
Tana Pothikamjorn, Chief Executive Officer of KASIKORN LINE Co., Ltd., stated: "Over the past two years, LINE BK has collaborated with partners in a variety of industries to deliver the best possible financial experiences to our clients. As a technology company that works closely with our over 5 million LINE BK users, we understand consumer behavior and identify potential to address customer demands in new and innovative ways. Recently, LINE BK teamed with Aurora, a leading gold jewelry retail business, in order to increase access to legitimate finance for its present clients. The new service is aimed at a specific group of clients, offering gold pawn service as a solution when they require cash quickly. Clients who use Aurora's 'Gold for Cash' service will benefit from greater convenience at Aurora storefronts and "Gold for Cash" stores around Thailand, as well as accurate, dependable trading prices and fair interest rates."
Anipat Srirungthum, Chief Marketing Officer, Aurora Design PCL., revealed: "This collaboration with LINE BK strengthens our leadership in the integrated gold trading and gold pawn business at 266 branches nationwide as the first company to implement the automated gold valuation system and an application to allow clients to check the price of gold themselves or even pay interest to extend pawn contracts without visiting branches. These are some of our strategies for reaching out to newer generations of customers. We know that LINE BK is a channel full of young people, and this is an important stepping-stone toward future collaborations with LINE BK. We believe that by offering the 'Gold for Cash' service on the LINE Official Account of LINE BK, we will increase the choice of access to new sources of financing for LINE BK clients, and our extensive network of branches nationwide will undoubtedly help facilitate the clients of the 'Gold for Cash' service, as well as reinforce Aurora's leadership in the retail gold market."
Customers of LINE BK who receive a message invitation to join the "Gold for Cash" campaign (Thong Ma Ngern Pai) via the LINE Official Account of LINE BK will earn an additional 2% credit from the gold appraised pawn value with access the service during 120 days after received the message at any Aurora's storefront in all department stores or at any "Gold for Cash" store in their local neighborhood. The campaign period begins today and ends in October 2023.
"This partnership with Aurora is a significant milestone for LINE BK in expanding its service to meet the needs of Thai people. This collaboration expands access to secure financial sources and simplifies access to services via LINE BK's online platform while Aurora functions as a gold retail leader, helping to fill and facilitate customers at their stores around the country. It is a cooperation that truly leverages the expertise of both industries to deliver another easier financial service experience for Thai people. We are committed to the principle of customer centricity through a customer-centric mindset by continually listening to client voices. LINE BK maintains the concept of 'Banking in Your Hand' and strengthens our position as a gateway for Thais to gain access to appropriate legal finance sources." Tana concluded.
About LINE BK
LINE BK is the first full-fledged social banking in Thailand which currently has more than five million users as of September 2022. The joint venture between KASIKORNBANK, a leading Thai bank, and global conglomerate LINE offers four financial products namely Savings Account, Special Rate Account, Debit Card and Credit Line/Nano Credit Line It elevates online financial service with ease, speed and smoothness as a one-stop service within one application without the need to switch between several applications. It also unlocks loans for freelancers and those who don't have regular incomes.
About aurora
Aurora operates as a retailer of gold ornaments, diamond jewelry and gems and other related businesses with one-stop service, including gold pawn business and jewelry containing gold and diamonds. The customer can redeem the assets within the agreed period and the interest rate is charged according to the number of selling days at a maximum rate not more than 1.25% per month. Aurora currently 266 branches nationwide and focuses on opening branches in shopping centers/departments with "Gold for Cash" shops (Thong Ma Ngern Pai) that focus on consignment customers and increase the opening of branches in various communities to make it easier for customers to access.