New phenomenon! TrueMoney teams up with Google Play to offer an easily accessible payment channel for Thais

Event Calendar Press Releases Wednesday April 3, 2019 11:25
Bangkok--3 Apr--FAQ
TrueMoney Wallet Expected to Hit 10 Million Users in 2019

TrueMoney is excited to announce TrueMoney Wallet on Google Play". We hope this collaboration with Google, will provide our users an easier and more efficient way to buy digital content, confirming our position of being "The New Way of Everyday Payment" bringing effortless payment in daily life. All Android users in Thailand will be able to buy digital content, e.g. songs, movies, e-books, games and Android apps, from Google and online stores more conveniently without using credit/debit cards. The company expects its e-Wallet service to reach 10 million users in 2019.

There are still many users who want to access and buy digital content via Google Play but cannot do that because payment options are limited and those available options do not correspond to their lifestyle, for example, some of them may not have any credit card.

Ms. Monsinee Nakapanant, Co-President, Ascend Money Co., Ltd., said, "According to ETDA, Thailand has the highest growth in B2C (business to consumer) among ASEAN nations. From 2016 to 2017, the market value increased over 160 billion Baht, partly due to more convenient e-Payment service. Therefore, TrueMoney has partnered with Google to offer a payment channel via TrueMoney Wallet in order to facilitate online spending. We also offer various promotions and benefits to users. By expanding our services, we will drive towards a cashless society. Our main target is to deliver fast, convenient and secure transactional experiences via e-Wallet payment, either online or offline, in line with the trend of 'Everyday Payment'. Our robust systems and infrastructure are 24x7 available to cater the needs of consumers anytime, anywhere."

"At present, we have about 7 million active users each month, and we target to hit 10 million users this year. We are committed to expanding our services and encouraging the use of e-Wallet among all customer groups, including unbanked and underbanked consumers as well as digital natives. Payment directly service via TrueMoney Wallet on Google Play will be a leading online payment service and it plays a vital role in e-Commerce ecosystem. This service delivers seamless online shopping experience to millions of Android device users. Meanwhile, we will expand our partnership with merchants who provide offline payment service with TrueMoney. Today, we have 200,000 acceptance points for TrueMoney Wallet."

Mr. Nirun Fuwattananukul, Deputy Director – Head of Commercial, TrueMoney (Thailand) Co., Ltd., said, "Google Play gives you one place to find, enjoy and share your favorite entertainment, from apps, games, movies, music, TV shows, books and more, on the web or any device. And with more than 1 billion active users in 190+ countries around the world, Google Play is an important distribution platform for developers to build a global audience"

"We have also launched special promotions with some leading partners and games such as JOOX, NetMarble, NEXON, IGG and more. Those who make payment on Google Play via TrueMoney Wallet will obtain various benefits. For example, JOOX users who pay any amount for JOOX VIP will receive additional 30 days of JOOX VIP service, or Lords Mobiles game players will obtain special items when purchasing defined packages. Moreover, each spending with TrueMoney on Google Play will enable buyers to play Chicken Hit game up to three times and win a cash-back reward via TrueMoney Wallet each time."

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About TrueMoney
TrueMoney is Southeast Asia's leading fintech company providing financial services for the digital and unbanked consumers across 6 countries in Thailand, Cambodia, Myanmar, Vietnam, Philippines, and Indonesia.

Established in 2003, became a part of Ascend Group in 2014. TrueMoney has 2 shareholders, Charoen Pokphand Group (C.P. Group), a global conglomerate operating agri-food, retail and telecommunications businesses and Ant Financial Services Group, a tech company dedicated to using technology to bring the world equal opportunities.

TrueMoney provides extensive e-Wallet services, agent networks, offline payment, that enable millions of Southeast Asians with access to innovative financial services, leading to better lives.

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