KBank makes headway with new debit card application feature aiming new one million cards in 2017

Stocks and Financial Services Press Releases Wednesday March 8, 2017 10:07
Bangkok--8 Mar--KASIKORNBANK

KASIKORNBANK rolls out a new feature on K-Mobile Banking PLUS, allowing customers to apply for a debit card without visiting the Bank, not to mention more privileges coming with the card. This year, the Bank eyes additional one million cards, which will increase KBank's total debit cards to 12 million, with aggregate spending of 71 billion Baht—33 percent in growth. With that, KBank retains the No.1 position in the debit card market, in terms of spending.

Ms. Noppawan Jermhansa, Executive Vice President, said that "Lifestyle Debit Card" remains KBank's playbook in the debit card channel, featuring its one-card-fits-all premium characteristic. Its debit card can be used everywhere for every financial transaction, including daily shopping, not forgetting a bunch of privileges that target each customer segment with different lifestyles; uncomplicated usage is also one of KBank cards' highlights. Amid digital push, KBank has responded to the trend by introducing a novel way of issuing debit cards whereby customers can apply for the card via its K-Mobile Banking PLUS and save themselves the bother of making a trip to the Bank. This feature covers card application and renewal in case the card is lost or expires.

To apply, customers only need to open K-Mobile Banking PLUS, choose services button and then go to "Register Debit Card". Customers can then select from three card types, namely debit card, special debit card (with unique designs) and debit card with insurance—all chip-embedded—and follow the instructions until finish. Customers receive the card within seven banking day. Fees are the same as when they apply at the Bank, but another 37 Baht will be added for the EMS delivery service charged by Thailand Post according to the actual postage weight. KBank provides highest security for the service, whereby customers are required to activate the card by themselves through their identification on K-Mobile Banking PLUS. The service starts today. Log on to https://www.kasikornbank.com/promotion/issue-debitcard-via-KMB for instructions or contact K-Contact Center at 02-8888888.

Ms. Noppawan added that it is one of KBank's priorities to encourage card usage which is consistent with the government's national e-Payment program. KBank's debit card service has been optimized through the following tactics: 1) Enhance self-service features of K-Mobile Banking PLUS to promote trouble-free usage, e.g. customers can adjust their withdrawal and spending limits as well as to freeze their cards; 2) introduce products incorporate with privileges that resonate with the needs of clientele of the varying segments, such as K-DUCATI card which gives customers discounts at Ducati shops and free test drive at every showroom; and 3) select privileges that are suitable for consumer lifestyle to promote card usage in place of cash, with an emphasis on low-priced daily products or services, e.g. movie tickets from SF Cinema priced at 100 Baht, 100-Baht McDonald's extra value meal sets; customers are also entitled for other credit card promotions.

Thanks to concerted effort in pushing for higher debit card usage and in adding the number of card accepting merchants, the number of debit cards climbs 6 percent to 50 million cards in 2016, with higher spending when compared to the previous year. Some 20 percent rise from 2016 was registered for payment via debit cards. KBank debit cards numbered 11million with top total spending of 53.3 billion. As for 2017, it aims to issue new one million debit cards, making the total to come to 12 million and 71 billion Baht in aggregate spending, marking 33 percent in growth. KBank will then retain its number one position in debit card spending.

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