State Railway of Thailand bracing for 4.0 era teams up with KBank to accept fare via QR code

Stocks and Financial Services Press Releases Thursday July 5, 2018 15:07
--5 Jul--KASIKORNBANK

Today (July 5, 2018), at Bangkok Station, State Railway of Thailand (SRT) and KASIKORNBANK (KBank) jointly delivered a press conference on the launch of train ticket payment service via QR code with Electronic Data Capture (EDC) under the concept "the New Era of Cashless Train Society" to offer greater alternatives for commuters in the 4.0 era. The event was presided over by Mr. Voravuth Mala, SRT acting governor and Mr. Patchara Samalapa, KBank President.

Mr. Voravuth said that in response to the forthcoming cashless society in alignment with the Thailand 4.0 policy, SRT thus debuted the train ticket payment service via QR Code as a new option for commuters to enhance convenience and security in making fare payment. SRT and KBank have completely installed EDC machines to accept fare payment with VISA and MasterCard credit cards. There are now 140 EDC machines available at 56 main stations including Bangkok, Chiang Mai, Ubon Ratchathani, Nongkhai, Hat Yai Junction, Chumphon, etc. Of this number, 14 are located at Bangkok Station. Now customers are able to scan QR code of any mobile banking service via EDC to buy train tickets. This initiative marks another milestone of SRT to embrace the cashless society. Additional EDC machines will be gradually installed to ensure service coverage.

Mr. Patchara Samalapa, KBank President, said that KBank has developed QR code payment service for various modes of public transport systems such as airline, ferry and public bus. KBank cooperation with SRT today caters to the changing lifestyle of commuters and makes the payment process fast and convenient, while offering them a seamless experience toward the cashless society. In addition, the QR code payment for train service will help SRT reduce the management cost and ease the workload of SRT officers.

At present, 2.4 million Thai and international passengers use rail transport services per month or around 80,000 daily and the number is set to increase in line with Thailand's booming tourism industry, particularly after the completion of additional rail transport systems including dual-track railway and high-speed train. Currently, a majority of 92 percent of passengers prefer using cash to pay for train fares, with only 6 percent of them using credit card for payment. Thanks to modernized rail systems and the behavior of new-generation consumers who are more familiar with digital payment, QR code payment service will expand further because the electronic payment service is responsive to the evolving consumer lifestyle.

Mr. Voravuth added that SRT had already organized training on the use of the QR Code payment system via EDC device for train station officers to offer greater convenience for passengers at ticket counters of any railway station. Train passengers are also invited to join SRT in promoting "the New Era of Cashless Train Society". For more information, please visit SRT at any railway station, or contact our Call Center at 1690, available 24 hours daily, or www.railway.co.th, or SRT PR Team Facebook Fanpage.


Latest Press Release

KTC invites members to enjoy shopping with worthwhileness and special privileges at Osaka Japan.

Miss Sudchavee Banjobdee, Senior Manager – Credit Card Business, "KTC" or Krungthai Card Public Company Limited,jointly with Miss Tharinee Wongwattanun, Senior Marketing Manager, JCB International (Thailand) Company Limited, invite KTC JCB PLATINUM...

New Accenture Study Forecasts End to #Lucrative Inefficiencies for $1 Trillion Capital Markets Industry as It Adapts to the Digital Age

Wealth and asset managers generate most of the industry's profits but struggle to find scale efficiencies and are highly exposed to squeeze scenarios A new study from Accenture (NYSE: ACN) shows how the capital markets industry can wring out historical...

UMITRON secures US$2 million project funding from the Inter-American Development Bank to deliver IoT and AI technology to drive growth of sustainable aquaculture in Lake Titicaca, Peru

UMITRON PTE.LTD. (Singapore, Co-founder/Managing Director, Masahiko Yamada) in cooperation with Abaco (Cooperativa de Ahorro y Credito) and its subsidiary Piscis (Piscifactorias de los Andes) has been approved for US$2 million project funding to improve...

Photo Release: KBank wins Best Private Bank in Thailand 2018 award on the global stage

Mr. Jirawat Supornpaibul, Private Banking Group Head, recently represented KBank to receive the "Best Private Bank in Thailand 2018" award at the PWM/The Banker Global Private Banking Awards, organized by The Banker Magazine. It is the 24th best private...

Fitch Affirms BAFS at #A+(tha)#; Maintains Negative Outlook

Fitch Ratings (Thailand) Limited has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'A+(tha)' and maintained Negative Outlook. Fitch has also affirmed BAFS's National Short-Term Rating at...

Related Topics