SCB EASY PAY Mae Manee Money Solution ready to serve Chinese tourists through WeChat Pay to spur full cashless payment

Stocks and Financial Services Press Releases Tuesday December 26, 2017 10:57
Bangkok--26 Dec--Siam Commercial Bank

To forge ahead with a plan to expand e-payment and support Thailand's transition to a cashless society, Siam Commercial Bank has made its application SCB EASY PAY – Mae Manee Money Solution ready to serve over 10 million Chinese tourists in Thailand using QR codes of giant mobile payments app WeChat Pay.

WeChat Pay is one of the world's major e-payment service providers serving more than 800 million users. It has been developed from the multi-media and social media app on smartphones into the giant mobile payments app providing product and service payments through the QR code. The enhanced payment service through WeChat Pay will help build QR code payment service recognition among merchants and users in Thailand. More importantly, it will enable SCB to get more than 700,000 QR code sign-ups as targeted by the end of next year.

SCB Senior Executive Vice President and Head of Operations, Retail Products and Retail Payments, Mrs. Aphiphan Charoenanusorn, said the bank began the "SCB EASY PAY – Mae Manee Money Solution" campaign in November to build the perception, recognition, and popularity of the SCB EASY PAY QR Code among target users. A winsome 'Mae Manee' character created as a digital-generation 'nang kwak', based on the belief of many merchants that she will beckon customers. Mae Manee is used to build merchant and client awareness under the "Mae Manee Loves You All, Serve All Banks, and Love All Nations" concept, with the SCB QR code boosting spending via mobile applications for banks and merchants of any nationality, who will play an instrumental role in Thailand over the next few years.

"Merchants are familiar with mobile payment app WeChat Pay, particularly in the three main tourist destinations of Bangkok, Phuket, and Chiang Mai, where more than 10 million Chinese tourists visit each year. The SCB's enhanced payment service through the WeChat Pay QR code together with the purchasing power of Chinese tourists will help significantly boost recognition and spur spending through QR codes, supporting Thailand's transition into a full-grown cashless society," she said.

The Ministry of Tourism and Sports revealed the number of foreign tourists visiting Thailand in October totaled 2.7 million, up 21% year-on-year, with Chinese tourists making up the largest portion of visitors. Realizing the importance of this trend, SCB introduced its "SCB EASY PAY – Mae Manee Money Solution" service through which payments can be made using WeChat Pay for the convenience of clients. WeChat Pay is another key payment service provider in Thailand's economic system because Chinese tourists prefer to use the application for buying products. Simultaneously, more merchants in Thailand have adopted the e-payment system, boosting SCB's determination to encourage merchants to receive payments by QR code for the sake of trade opportunities. With its cooperation with WeChat Pay, SCB is confident it will manage to increase the number of its QR code service users to 200,000 this year, and raise the number of sign-ups by 500,000 to 700,000 as targeted by the end of 2018.


Latest Press Release

SET announces 63 listed firms, five CEOs nominated for SET Awards 2018

63 listed companies and five CEOs have been nominated for SET Awards 2018. The announcement and the award presentation, which is the fifteenth of its kind, will take place on November 27, 2018. SET President Pakorn Peetathawatchai said that The Stock...

Fitch Ratings: Global Power Synergy Still on Watch after Appeal of Regulator Decision

The ratings on Global Power Synergy Public Company Limited (GPSC) remain on Rating Watch Negative (RWN) after the company said it submitted an appeal of the Energy Regulatory Commission's (ERC) order to block GPSC's acquisition of GLOW Energy Public...

Fitch Affirms Makro#s Rating at #A(tha)#; Outlook Stable

Fitch Ratings (Thailand) Limited has affirmed Siam Makro Public Company Limited's National Long-Term Rating at 'A(tha)'. The Outlook is Stable. KEY RATING DRIVERS Overseas Expansion Drives Rising Leverage: Makro's funds from operations (FFO) adjusted...

Fitch Affirms CP ALL#s Ratings at #A(tha)#; OutlookStable

Fitch Ratings (Thailand) Limited has affirmed retailer CP ALL Public Company Limited's National Long-Term Rating at 'A(tha)' with a Stable Outlook. Fitch has also affirmed the National Long-Term Rating of its secured bonds at 'A(tha)', the National...

KTC achieves major milestone with a net profit of 3.911 billion Baht in Q3,with preparations in motion to diversity into Nano and Pico Finances.

KTC declares a net profit for the end of Q3 of 3.911 billion Baht. Profits have grown 65 percent due to a surge in credit card spendings, receivables from credit cards and personal loans, along with the upholding of approval standards within appropriate...

Related Topics