KBank partners up with Siam Piwat to launch OneSiam KBank Credit Card Setting a new credit card standard in Thailand with unrivaled customer privileges

Stocks and Financial Services Press Releases Tuesday July 24, 2018 12:19
Bangkok--24 Jul--KASIKORNBANK
  • Via retail and banking synergy and "Winners & Winners" formula, customers are offered unprecedented privileges based on a "Make EveryDay Extraordinary" concept. The two organizations expect to issue 100,000 cards within one year, with total card spending of THB5.7 billion.

KASIKORNBANK (KBank) and Siam Piwat Co., Ltd., leaders of banking and retail businesses, team up to usher in a new credit card standard in Thailand with a launch of the "OneSiam KBank Credit Card". Founded on a "Make Everyday Extraordinary" concept, the card offers world-class experiences to its clients, who will benefit from unrivaled lifestyle privileges of spending and service use in the "OneSiam" – a global destination that integrates the potential of three world-renowned shopping complexes: Siam Paragon, Siam Center and Siam Discovery. To celebrate the launch of this new card, breathtaking promotional campaigns take place with collaboration of global partners namely VISA and Emirates Airline. Within a year of its inception, the OneSiam KBank Credit Card is expected to gain 100,000 cardholders, with total spending of more than THB5.7 billion.

Mr. Wirawat Panthawangkun, KBank Senior Executive Vice President, said "We intend to develop KBank credit cards to become "Lifestyle Credit Cards" that offer amazing experiences and memorable impressions. Each customer segment will enjoy maximum benefits that match their particular lifestyles. Innovative ideas are used in designing our marketing activities, while partnership with world leaders of lifestyle businesses allows us to impress our customers and attract them toward using our credit cards as their only one card for everyday spending. Now we have 2.6 million cards in our customer base, with expected card spending of THB175 billion for the first half of 2018. Considering an average card spending of THB21,000 per month, our cardholders are deemed as having a high spending potential. It is hoped that, amid improvements of the overall spending atmosphere and the economy, card spending for lifestyle goods and services will likely pick up."

"The launch of OneSiam KBank Credit Card is the synergy of leadership between KBank, as the trailblazer in the credit card industry and Siam Piwat – being at the forefront of retail business, which has made One Siam a global destination. Comprising Siam Paragon, Siam Center and Siam Discovery, One Siam draws throngs of high spending shoppers every day. KBank is confident that this cooperative effort will elevate every lifestyle experience and bring impressive spending moment for OneSiam KBank Credit Cardholders. The Bank sets the target to acquire more than 100,000 cards within one year, with combined spending of 5.7 billion Baht."

OneSiam KBank Credit Card offers its members the highest privileges, ranging from spending, services, scores of benefits, to extraordinary promotional activities under the concept "Make Everyday Extraordinary". There are three types of cards, namely Infinite, Signature and Platinum that come with three-pronged superior privileges as follows.

1) Spending: Triple bonus points Cardholders spending at shops within One Siam earn three times normal points; 1,000 points equal up to 300 Baht. Points can be redeemed for myriads of rewards as desired.

2) Benefits: Cardholders are entitled to complimentary menus for food and sweets from renowned shops every week as well as movie tickets of world class cinema. They will also enjoy exclusive fashion shows, previews of new product collections or pre-sale activities to be held year-round.

3) Convenience: Members of OneSiam KBank Credit Card are provided with free parking up to 8 hours a day with no purchase required. Parking lots are reserved exclusively for card members at Floor B1, Siam Paragon. Limousine service is also available for their travel to One Siam.

Mrs. Mayuree Chaipromprasith, Senior Executive Vice President, Siam Piwat Co., Ltd., said that "As one of the world's favorite shopping destinations and Thailand's largest retail business centers, Siam Paragon, Siam Center and Siam Discovery have joined forced to become the "One Siam" – a global destination that offers an extraordinary experience for our Thai and international customers, so that they are amazed and inspired, as well as enjoying a revolutionary encounter here. Currently, Siam Paragon welcomes approximately 200,000-250,000 shoppers/day while the number of shoppers at both Siam Center and Siam Discovery reaches 80,000-100,000 persons/day. Such high foot traffic is a testament to fact that "One Siam" is a global destination that has conquered the hearts of Thai and international shoppers. It was also the world's most instagrammed place in 2013 and has been one of the most popular checked-in locations in social media.

The launch of OneSiam KBank Credit Card is one of Siam Piwat's marketing plans and strategies in 2018 to reinforce our image in always introducing novelty to life and showing the limitless potential of One Siam. Because consumers in the Thailand 4.0 era have greater access to information anytime, anywhere, it is easier for them to make decision to purchase goods and services. Those choosing OneSiam KBank Credit Card are smart consumers, who seek things that are value for their money or offer them more benefits when used each time; therefore they will get a lot of surprises when using this credit card often at One Siam. OneSiam KBank Credit Card can be used by any one, every day. A new and upgraded standard given by the OneSiam KBank Credit Card to the Thai credit card market this time around is a win-win formula, meaning that customers of KBank and One Siam will get maximum benefits. It is also a win for consumers choosing to use OneSiam KBank Credit Card."

To celebrate the launch of the credit card which creates a phenomenon in the credit card business, OneSiam KBank Credit Card has spent over THB50 million of budget to provide special privileges and promotions for the first generation of cardholders as follows:

  • Apply for OneSiam KBank Credit Card and Viz Card and be entitled to a THB1,000 voucher with a variety of options to choose from according to the lifestyle of each cardholder, exclusively for the first group of cardholders as 500 vouchers will be given away daily to customers applying for OneSiam KBank Credit Card service from August 1-5, 2018.
  • Receive 20,000 points (10,000 KBank reward points and 10,000 VIZ points) when applying for the card and spending THB10,000 or more via the credit card within one month.
  • Receive 1 million points instantly when applying and spending THB1 million or more from August 1 to October 31, 2018.
  • Special privilege for the first top three spenders, they will receive two business class tickets from Emirates Airline to fly to anywhere in the world from August 1-October 31, 2018.

Additionally, OneSiam KBank Credit Card has joined hands with the world-class partners namely VISA and Emirates Airline to select the best of lifestyle privileges for the cardholders and offer unique and impressive experiences every time the customers spend and use services at OneSiam.

Interested persons can apply for OneSiam KBank Credit Card from August 1, 2018 onward. Additional information can be obtained from tel. 02-8888889 or https://www.kasikornbank.com/th/

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