KASIKORNBANK (KBank) has launched KASIKORN Global Payment Company Limited (KGP) (KGP) to develop and provide the PayDii digital payment system, which is designed for both merchants and online shoppers. This digital payment solution allows merchants to conduct frictionless transactions as they do not need to switch from one application to another in order to use it. The system is now available to online merchants on the Facebook platform.
Mr. Poramate Minsiri, Chairman of the Board, KASIKORN Global Payment Company Limited said that KGP is a company that KBank has invested in, with registered capital of 200 million Baht. The company is managed and operated by its own board of directors, with an independent work team and work structure. KGP is ready to provide digital payment services to online merchants via business platform in Thailand. It plans to extend its reach to other AEC+3 countries in the future.
PayDii, which is KPG’s first project, features an online payment system which can be used without switching from one application to another; it caters specifically to both merchants and online shoppers. This digital payment solution allows a seamless experience for online merchants who conduct their trade via business platform, as it can accommodate linkage with the greatest number of mobile banking applications under acceptable security standards. In the initial stage, PayDii is available to online merchants registered on Facebook – the world’s largest social media platform. With this innovative digital payment solution, they will be able to close their deals with a seamless experience.
At present, modes for transacting goods and services are rapidly evolving, propelled by the entry of digital technology. Consequently, online trade and bill payment have expanded significantly. According to information from the Electronic Transactions Development Agency (ETDA), the value of Thailand’s e-commerce market in 2018 reached 3,150,232.96 million Baht, and the e-commerce market is expected to grow average of 22 percent from now until 2022, in line with the popularity of electronic payment, which is projected to rise by 35.7 percent.
Such rapid market expansion results in ever-higher demand for digital payment, which must be expedited on a system that is accurate, precise and secure. The most important factor that online sellers and buyers are seeking is a good user experience in the digital world, which helps merchants to close deals and accept payment easier, while customers can make payment conveniently without any complicated steps, allowing both sides to do business smoothly. KGP is ready to be an important partner in delivering delightful experiences to online merchants and customers on all platforms.
Under this service, online merchants can directly collect the requested payment from buyers by sending them a screenshot of the payment amount. To make payment, buyers must tap the ‘Payment’ button from the account on their mobile banking application. Otherwise, they can make payment by credit or debit card without providing their bank account number to the merchants as such accounts are already linked with the system.
As a result, buyers do not have to switch screens during their interactions with sellers on the Facebook platform, allowing them to conduct all transactions with greater ease, including sending a payment confirmation slip to the merchants. The service is protected with the highest security standards, meaning that it is secure and user-friendly while also helping online merchants resolve payment problems. Aside from PayDii, KGP offers other payment solutions that meet the needs of online merchants, as well.”
To celebrate the official launch of the PayDii service, KGP has joined with KBank to offer a special promotion, i.e., up to 1,200 Baht cash back, to merchants on Facebook applying for the PayDii service via their KBank account. Online entrepreneurs or merchants wishing to learn more about KGP or the PayDii payment system may visit www.kasikornglobalpayment.com.