SCB joins with Villa Market to develop Retail 4.0 platform to expand cashless society network

Stocks and Financial Services Press Releases Thursday April 19, 2018 13:43
Bangkok--19 Apr--Siam Commercial Bank

To develop unlimited products and services for commercial clients under its "Going Upside Down" strategy, Siam Commercial Bank has teamed up with Villa Market JP Co., Ltd. to launch two digital platforms for Villa clients: A VPlus Wallet Application and a shoponline.villamarket.com website.

This new business model jointly developed by both organizations has the common aim of reshaping retail businesses, particularly the supermarket segment, to cater to the lifestyles of all consumer groups and boost efforts toward achieving a cashless society.

SCB Head of Corporate Banking Function Mr. Wasin Saiyawan said the current business strategy adopted by the bank is to help develop and support client businesses whenever there is an opportunity to enhance their competitiveness. From now on the bank will not just focus on loan support or financial transaction services.

SCB is very pleased to be entrusted by Villa Market JP's with helping develop its VPlus Wallet Application and website (shoponline.villamarket.com) to cater to changing consumer behavior from cash payment to electronic payment, in line with the government's policy of boosting Thailand's transition to a cashless society. The platforms will provide Villa Market clients with added convenience in purchasing products, accumulating points, and exercising benefits under marketing promotions flexibly and effortlessly. Simultaneously, Villa Market will benefit from enhanced sales, reduced cash management costs, and increased channels for quick and efficient communications with clients.

Villa Market JP's Chief Executive Officer Mr. Pisit Poosanakhom said the cooperative effort forged between Villa Market JP and SCB is a new dimension in modernizing the supermarket business group's service channels to cater to the needs of consumers in the Thailand 4.0 era. Villa Market clients will truly benefit since the system is easily applicable, precise, and secure. VPlus Wallet is the first Thai supermarket app enabling clients to top up money and accumulate loyalty points for the redemption of benefits. The shoponline.villamarket.com allows clients to buy goods from Villa Market's outlets around the clock and choose to receive the goods through delivery or at Villa supermarkets. Clients will also enjoy convenience in paying for products via credit cards, debit cards, or deduction from SCB accounts through the SCB Payment Gateway service on the website.

"Currently, Villa Market has 250,000 VPlus Card members. They are gradually entering into our membership system on the digital platform. We target tapping over 100,000 new card members, adding 20,000 top-up clients through VPlus Wallet, and increasing the number of those shopping via the Villa website (shoponline.villamarket.com) by 50,000. It will grow Villa Market's e-commerce and outlet sales 2018 by 10% year on year," he said.

Caption:

Siam Commercial Bank has teamed up with Villa Market JP Co., Ltd. to launch two digital platforms for Villa clients: A VPlus Wallet Application and shoponline.villamarket.com website. The VPlus Wallet is the first Thai supermarket app enabling clients to top up money and accumulate loyalty points for the redemption of benefits. Shoponline.villamarket.com is an e-commerce website that lets clients can buy goods from Villa Market's outlets around the clock. This new business model was jointly developed by both organizations with the common aim of reshaping the retail business, particularly the supermarket segment, to cater to the lifestyles of all consumer groups and boost efforts to drive ahead with a cashless society. The successful cooperation was announced by SCB Head of Corporate Banking Function Mr. Wasin Saiyawan, SCB Head of Commercial Banking Solutions Function Mrs. Pimolpa Suntichok, Villa Market JP's Chief Executive Officer Mr. Pisit Poosanakhom, and Mrs.Sopis Poosanakhom, member of Villa Market JPs' Board of Directors.


Latest Press Release

Isotropic Systems Raises $14 Million in Series A Funding Led by Boeing HorizonX Ventures to Advance Space-Based Connectivity

- Isotropic's approach to next-generation integrated terminal creates profound change in terminal economics and performance to unlock the satellite industry's full potential Isotropic Systems Ltd., the next-generation integrated satellite terminal...

Global economic growth expected to slow in 2019

The global economy as a whole is expected to slow in 2019 as G7 countries return to long-run average growth rates, according to new projections from PwC in its latest Global Economy Watch. PwC expects that the pick up in growth of most major economies...

QNB Group: Financial Results for the Year Ended 31 December 2018

QNB, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2018. (Photo: https://mma.prnewswire.com/media/808498/QNB_Group_Head_Office.jpg ) Net Profit for the year ended 31...

CIMB THAI announces 2018 financial results with increased in operating income due to loan growth and lower gross NPL ratio. To fully move forward with Fast Forward program.

- Net interest income increased THB 544.3 million YoY mainly from loan expansion and higher interest income on investments. - Profit before tax of THB 271.2 million. - NPL ratio of 4.3% compared to 4.8% YoY due to more efficient risk management policies...

KTC decreases interest and usage fee to Bt. 199 for applying KTC PROUD Revolving Loan.

Ms. Phichamon Jitpentham, Vice President - Personal Loans, "KTC" or Krungthai Card Public Company Limited, helps lighten the loads of consumers' money usage by providing the special privilege to pay a lump sum of Bt. 199 for interest and usage fee for...

Related Topics