Marine Department promotes QR code payment service of KBank and Chao Phraya Express Boat at 3 main piers, targeting payment growth to 30% of total users

Stocks and Financial Services Press Releases Tuesday July 17, 2018 11:41
Bangkok--17 Jul--KASIKORNBANK

The Marine Department green-lighted QR code payment for boat tickets. This new facility provided by KASIKORNBANK (KBank) and Chao Phraya Express Boat Co., Ltd. has been introduced at three most used piers, namely Nonthaburi, Prannok and Sathorn, with the purpose to elevate the convenience of water transport service. The related parties expect QR code payment for boat tickets will grow to 30 percent of the overall commuters by this yearend.

Mr. Chirute Visalachitra, Director General Marine Department, said each day more than 150,000 persons use Chao Phraya public boat services, or more than 18 million persons a year. This transport means is thus important to residents of Bangkok Metropolis.

The Marine Department and Chao Phraya Express Boat Co., Ltd. view that payment via mobile applications tends to become more popular, given that it is convenient, speedy and up-to-date. Joining forces with KBank, the two organizations have launched a payment service via QR code to facilitate the general public and tourists, and planned to extend such service to Chao Phraya ferries and Saen Saep Canal boats in the future, in response to the Thailand 4.0 initiative to promote a cashless society.

Ms.Supapan Pichaironarongsongkram, Chairperson of Chao Phraya Express Boat Company Limited added that the company has worked with KBank to meet the needs of customers in the forthcoming cashless society in keeping with the policy of the government and Marine Department. The company with support of Marine Department has developed ticket payment system via QR code to provide an added payment channel for Chao Phraya Express Boat commuters topping 35,000 per day along the route of over 40 piers. The service has been first launched at three main piers with the highest number of passengers including Nonthaburi, Phrannok and Sathorn Piers for Orange Flag and Yellow Flag boats. The QR code payment service is expected to expand to other types of boats and piers for broader service coverage as we move fast towards the cashless society.

The company sets the target to raise the number of passengers taking a boat ride to use QR code payment service to 30 percent of the total passengers , or around 7,000 -10,000 per day. In the pipeline, Chao Phraya Express Boat service will be linked to other public transportation services including Maengmoom Card and the welfare card which will also be used to support fare payment in the future, as part of its service enhancement plan. For the latest development, twin-hull catamaran passenger ferry service will be developed to accommodate passengers to link to the MRT Blue Line to be rolled out in 2019.

Mr. Patchara Samalapa, KBank President, said that KBank has a goal to develop the QR Code payment service to be an integral part of the daily life of Thai people and offer convenience for our customers to make payments for foods, merchandises and holiday trips anywhere, anytime. Such endeavors will likely steer Thailand toward becoming a cashless society. Over the past few years, Thai people have increasingly become more familiar with QR Code payment.

Chao Phraya Express Boat is an important alternative of public transportation for Bangkok residents because it helps transport commuters residing in the sprawling suburbs to central business district. It also links with other mass transit systems, which substantially helps alleviate road traffic congestion during the rush hours. People can also travel on the Chao Phraya Express Boat to sightsee traditional ways of Thai life and heritage sites along the river. Meanwhile, KBank began introducing the QR Code payment service for Chao Phraya Express Boat in May 2018 and we expect that it will become more popular as financial services and consumers go digital.

Since June, KBank has offered a THB2-discount each for 60,000 tickets to K PLUS customers who pay for boat fare via QR code until the privileges run out to encourage the passengers to try digital payment service. The promotion receives a positive response as seen by an increase by over 7,000 QR code payment transactions compared to the past when all tickets were paid in cash. This cooperation makes it more convenient for the general public to commute, contributes to the effort to create a cashless society, saves the management costs and eases the workload of the Chao Phraya Express Boat officers.

At present, there are more than 8.4 million K PLUS users and 1.4 million K PLUS merchants, generating more than THB4 billion of total QR code payment transaction value, covering a wide range of business segments including public transportation which is one of the important sectors. KBank has developed QR code payment service for various modes of public transport systems such as airline, public bus and train.


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