Three New E-Payment Platforms Will Be Available To Thais By The End Of This Year

Thailand launches new e-payment platforms

Scrambling for change at McDonald’s will be a thing of the past. Source:

Three new e-payment services from Line and Facebook will be available for Thai smartphone users, reports The Nation. This reflects the two companies’ aim to tap into the country’s high mobile growth potential.

‘Rabbit Line Pay’ is a collaboration between offline payment platform Rabbit and Line Corporation’s Line Pay. Under this partnership, there will be two new services offered to Thai consumers by the end of this year. The services will introduce new ways of doing mobile payments using any operation systems. However, details of how the platform would work has not been released. The third e-payment service will be developed and released by Facebook.

In order to use Rabbit Line Pay, users will simply have to download the application to their smartphone. This platform will be piloted at retail outlets such as McDonald’s in August, followed by the Sky Train (BTS) in December.  The company has also partnered with Kerry Logistics to deliver products to customers when they make purchases from Line store. Kerry Logistics will provide same day delivery in Bangkok, with cash-on delivery as a payment option.

Rabbit Line Pay is currently working with large commercial banks such as Siam Commercial Bank, TMB Bank, Bangkok Bank and Kasikorn Bank to support e-payment transactions.

Facebook will also be rolling out its social commerce platform later this year.

 Facebook has 40 million Thai monthly users, and 1.55 billion global monthly users. – Rathiya Issarachaikul, SMB Manager, Facebook Thailand

Facebook’s new e-payment service, termed “onsite social commerce” will allow users to buy and pay for products via their Facebook home page. The service will rely on timely chat and an emphasis on ‘human touch’ to provide trust in the experience. Transaction will basically be done via chat.

The surge of e-payment platforms and social commerce initiatives is in line with PWC’s ‘Total Retail’ Survey, which reveals that 51% of Thai shoppers shop through social media platforms. The country’s low credit card penetration should also work in favor of e-payment platforms, as the country rolls out a vast number of e-payment initiatives, both from companies such as Line, and the government itself.

A version of this appeared in The Nation on July 1st. Read the full article here.