Bangkok--19 Oct--Siam Commercial Bank
Siam Commercial Bank has joined with CP All PCL to issue a new SCB ATM ID Smart Purse Card, the first-ever integrated card service in Thailand. The card service was launched to facilitate payroll payments to the company's more than 15,000 employees. The move underlines the continued cooperation by both organizations to satisfy the needs of CP All Group staff and ensure their maximum benefit, in line with SCB's determination to expand its bill payment services business with its trade partners.
Mrs. Parnkae Nandavisai, Head of SCB's GTS (Global Transaction Service) Group, said the Bank is cooperating with CP All PCL to facilitate payroll services for the latter's staff through the innovative SCB ATM ID Smart Purse Card. Featuring a magnetic stripe with integral chip, the card has multi-purpose functions, allowing it to serve as both an ATM card and sophisticated ID card enabling staff to enter and exit the office through an access control system that records office attendance. Additionally, it can be used as a refill Smart Purse Card to purchase goods at more than 15,000 7-Eleven outlets nationwide. The card is the latest innovative service provided by the Bank in cooperation with the CP All Group.
SCB is also providing Business Cash Management services to the CP All Group, including bill payments with the group's trade partners countrywide through their own account fund transfers within SCB, or fund transfers to other bank accounts, and cheque issuance for trade partners. The program provides further evidence of the Bank's determination to adopt state-of-the-art technologies providing integrated solution services satisfying customer needs in addition to its readiness to provide other services through the largest number of bank branches and ATM booths in the country.
SCB is recognized as one of the country's leading payroll service providers, and the SCB Guaranteed-Payroll System is just one of many innovative services the Bank proudly offers its customers. Under the system, the Bank guarantees that money will be transferred to the accounts of company employees by 06.00 hours of the date on which the monthly salary is normally paid. If the money is not transferred as scheduled, the Bank is willing to pay a penalty fee per account. Currently, competition for payroll service provision is strong, as rivals adopt pricing strategies or offer additional incentives to attract customers, such as life and accident insurance services.