Bangkok--20 Feb--KBank Thai AirAsia, a leading low-cost regional air carrier, has picked K-Cash Management for their financial management solutions because of their confidence in high efficiency and maximum data security in KBank online payment systems. The Bank projects that transactions via K-Payment Gateway should grow more than 50 percent this year. Mr. Tassapon Bijleveld, Chief Executive Officer, Thai AirAsia, said in a recent interview that K-Payment Gateway has been selected as the company’s online payment system for customers who transact bookings via the airline’s website, www.airasia.com. K-Payment Gateway enables their acceptance of payments using VISA and MasterCard credit cards round-the-clock from anywhere in the world, with the data security systems at international standards. Given this, the airline is confident that KBank’s cooperation will enhance their online customer service potential. Thai AirAsia has also chosen K-Cash Management for other financial management solutions, including three other payment services provided by KBank. These include ‘Electronic Data Capture’ (EDC) card-swipe transaction terminals, which will be installed at Thai AirAsia ticket sales points, ‘K-Cash Connect’ for checking the date and time of online cash payments, and ‘Payroll K-Cash Connect’ for the payment of Thai AirAsia employee salaries and allowances. Mr. Krisada Lamsam, Executive Vice President, KASIKORNBANK, recently disclosed that K-Payment Gateway — which is to be used with Thai AirAsia online booking — provides a data security system meeting international standards to protect both participating merchants and credit cardholders. A ‘Fraud Warning Light’ will illuminate and warn merchants of potentially fraudulent transactions; this feature will permit Thai AirAsia staff to decide if they will accept the transaction with assurance that they are being protected from credit card fraud. KBank is the only one in Thailand to offer this exclusive service. In addition, the ‘Verified by VISA’ and MasterCard SecureCode systems ensure the highest safety and security in every booking transaction made with the airline. Therefore, it is believed that K-Payment Gateway will increase their business efficiency. Meanwhile, the airline’s customers will be assured of greater convenience and confidence of sound security in their booking transactions made via the internet. Moreover, the Bank has implemented a DCC (Dynamic Currency Conversion) system that enables credit cardholders to choose the currency with which they wish to make payment; the system will automatically convert Baht costs into the home currency of overseas credit cards, and there are nine major currencies available. At present, KBank has a business customer base using the K-Payment Gateway to facilitate their online business of around 1,000 firms. In 2007, the total value of transactions via this system totaled THB5.6 billion; tourism and airline businesses were among the major merchant accounts using the system. In 2008, it is targeted that the transaction turnover will grow at least 50 percent. Thai AirAsia is the first ‘low-cost airline’ in Thailand offering seat reservations via their website since 2002. At present, Thai AirAsia is the only no-frills airline that has both domestic and international routes to and from the Suvarnabhumi International Airport with a fleet of 15 Airbus A320s configured with 180-seat capacity, and Boeing 737-300s seating 148 passengers. They have ten domestic routes to Chiang Mai, Chiang Rai, Ubon Ratchathani, Udon Thani, Hat Yai, Phuket, Narathiwat, Krabi, Surat Thani and Ranong and international routes to Singapore, Macau, Xiamen, Penang, Kuala Lumpur, Hanoi, Phnom Penh, Yangon and ShenZhen. New routes will be opened by early April to Jakarta and Ho Chi Min City.