TMB launches #TMB WAVE Thailands first chip payment of international EMV standard to further enhance customers digital payment experience

Stocks and Financial Services Press Releases Friday September 7, 2018 09:57
Bangkok--7 Sep--ideaworks communications
  • Faster payment, with less than 5 second to complete a transaction

TMB has made another step ahead with 'TMB WAVE', Thailand's first chip payment of the international EMV standard, to enhance customer digital experience with contactless payment which takes less than five second to complete. The move is part of the TMB's promise to create the "Get MORE with TMB" perception among the Bank's customers and further enhance customer digital experience, with an aim to become the most advocated bank in Thailand by 2022.

Ms. Mingkwan Pattanawong, Head of Retail Marketing of TMB, said "At TMB, we never stop developing new quality products and services to fulfill the customer's needs and meet the customer's different lifestyle. With our strong commitment to enabling our customers to "Get MORE with TMB, today we are introducing TMB WAVE – Thailand's first chip payment. Our data shows that over 50% of our customers have active lifestyle. They enjoy exploring new things and exciting activities. We believe that this innovated payment method will meet the need of this group of customers. Customers who use TMB WAVE can carry the chip with them easily by just stick it on any gadget item such as mobile phone and wristwatch. They no longer need to carry cash or card, making life easier, safer and more convenient.

Mr. Chavamon Vinijtrongjit, Head of Primary Banking Product of TMB, added "TMB WAVE is the latest payment innovation on our path to becoming a cashless society. TMB WAVE has four cutting-edge characteristics of being FAST – by attaching the chip to your favorite gadgets. When making payment, and just makes a single tap onto EDC machines at any participated store with Visa PayWave symbol, by bringing the chip close to the EDC, using the Near-Field Communication (NFC) technology. A transaction can be completed in less than five second. It is EASY to obtain by applying for a TMB All Free account at any TMB branches, TMB WAVE chip will be issued right away. The chip is truly flexible, it can be stuck to any gadget, including mobile phone, wristwatch and etc. The user can also use it in most countries worldwide. TMB WAVE has been also designed for more CONVENIENCE of customers that the first activation can be done on TMB TOUCH or TMB WAVE is also SECURE to use as security criteria has been pre-designed. For example, the limit of value for each transaction is set at 1,500 Baht whereas a daily total spending is capped at 10,000 Baht. A self-imposed daily spending limit can also be done via TMB TOUCH. Every transaction made is supported by an SMS alert. In case of lost, chip deactivation can also be done via TMB TOUCH, TMB Contact Center phone number 1558 or TMB branch. The security quality of TMB WAVE is enhanced by the EMV global payment standards.

Mr. Suripong Tantiyanon, Country Manager for Visa Thailand said "Visa is proud to partner with TMB to offer consumers with safe, secure and convenient ways to pay across a range of devices. We believe TMB Wave will be well received by Thais, where according to Visa Consumer Payment Attitudes Study , 33 per cent of Thai respondents said that they have used contactless payments before to make a purchase. In addition, 62 per cent express interest to make purchase with contactless payments in the future. Our collaboration with TMB is a further proof point of our collective effort to help transform Thailand into a cashless society."

Ms. Mingkwan added "We are pleased to announce that our customers have started getting and using TMB WAVE since 1 September already. We are going to use the online media to create the awareness about TMB WAVE among the target audience. Any customer who holds a TMB All Free bank account, may obtain TMB WAVE from TMB branches by showing book bank and personal identification card. New customers who open TMB All Free will receive TMB WAVE right away. From now until October 31, on the offer is a special campaign where users can earn double WOW reward points for every transaction made by TMB WAVE. Movie lovers will also enjoy the benefit of 'buy 1, get 1 free' and a free combo set of popcorn & soft drink when purchasing a movie ticket at Major Cineplex.

At the launch of TMB WAVE, Orkbab – Chutimont Jeungcharoensukying, an actress and a TMB customer who has started using TMB WAVE voiced her endorsement that it compliment her fast lifestyle and meet her needs very well.

Ms. Mingkwan concluded, "At TMB, we strive to offer the most beneficial and the best possible value products and services to our customers that they can be used practically in daily life. We want to be assured that 'TMB customers get more'. TMB WAVE is our latest product that provide customers with speed and convenience. It compliments with customer's lifestyle and enhances customer's digital experience. We hope that TMB customers will truly feel "Get MORE with TMB" when they use TMB WAVE."

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