KBank and Siam Piwat team up with Fitbit and VISA A new dimension of cashless shopping via Fitbit Pay

Stocks and Financial Services Press Releases Tuesday October 16, 2018 15:20
Bangkok--16 Oct--KASIKORNBANK

KASIKORNBANK and Siam Piwat, leaders in banking and retail business, have joined hands with world-class partners Fitbit and VISA to launch a phenomenal cashless shopping innovation in Thailand, through the OneSiam-KBank Credit Card with contactless payment via Fitbit Pay – an application for the Fitbit smart watch, now available in Versa and Ionic, the two latest Fitbit models.

Mr. Amorn Suvachittanont, KBank First Senior Vice President, said, "This collaborative effort with Fitbit and VISA – our world-class partners – aims to deliver superior privileges and distinctive experiences to our K-Credit Card customers. The initiative will allow OneSiam-KBank Credit Cardholders to add their credit card to the contactless payment system of Fitbit Pay, an application for the Fitbit smart watch. Simply by tapping their Fitbit, cardholders can easily make payments without carrying a credit card, for greater convenience and security."

Mr. Anawat Sangkhasap, Senior Deputy Managing Director Strategic Marketing and Planning Division, Siam Piwat Co., Ltd., said, "We are always determined to deliver an 'extraordinary experience' to customers of OneSiam – a global destination which integrates Siam Paragon, Siam Center and Siam Discovery. Aside from having fun and happiness with their shopping, the latest innovation is intended to make their life at OneSiam extraordinary in all dimensions. Our patrons will be provided with greater convenience in their shopping for iconic products, dining at renowned restaurants, and enjoying world-class entertainment for all lifestyles. Contactless payment with Fitbit Pay offers a whole new way to pay, and marks a new chapter in the Thai retail business."

Louis Lye, Fitbit Regional Director, SEA, HK & TW said, "We are excited to launch Fitbit Pay with leading financial partners in Thailand. Fitbit Pay will provide consumers with the option of hassle-free contactless payments, which will be a step in line with the Thai government's efforts to establish a digital economy in the country. It also offers banks an exciting opportunity to engage with their customers in unique ways while supporting them on their health and fitness journeys."

"At Visa, we continue to provide payment experiences across a wide range of form factors and are pleased to partner with Fitbit to launch Thailand's first contactless payment wearable. There is much potential and opportunity for such wearables to create convenient and relevant payment experiences that truly change the way people make their day-to-day payments, particularly at places and occasions that are traditionally heavy on cash. This is another step forward in the growth of Internet of Things and shows how Visa is enabling companies across the technology industry to help us all move towards a cashless future," said Mr. Suripong Tantiyanon, Visa Country Manager for Thailand.

Fitbit Pay transactions use an industry standard tokenization platform for all transactions. User's card information is never revealed or shared with merchants or Fitbit. Plus, a PIN is chosen by the user during device set-up for an added layer of protection.

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