Krungsri and Global House join forces in the launch of new payment system, MyPromptQR in Krungsri Biz Mung-Mee

Stocks and Financial Services Press Releases Wednesday October 7, 2020 14:30
Bangkok--7 Oct--Bank of Ayudhya

Krungsri (Bank of Ayudhya PCL), a member of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, and one of the world’s largest financial groups, and Global House (Siam Global House PCL),Thailand's leading distributor of construction materials and home decoration products, have expanded their collaboration in the development of the electronic payment platforms to facilitate customers with easier and faster payment channels for the purchase of products and services. Together, Krungsri and Global House are introducing the latest service, MyPromptQR, a business-scan-consumer QR code payment system (B scan C), as part of Krungsri Biz Mung-Mee.

Ms. Yingluk Kongkasai, Krungsri Head of Transaction Banking Group, said “Krungsri and Global House have embarked on the cooperation in the development of new electronic payment system platforms to facilitate Global House’ s customers to make payment process easier and faster. The move corresponds to the changing consumer behaviors based on new lifestyles under the New Normal, and supports the government's commitment to move toward the cashless society."

"Prior to this, Krungsri and Global House jointly developed and supported the use of QR code for payment of products and services, and deployed digital technologies to develop the new payment systems that enable Global House’s customers to pay for products at stores or via Global House’s mobile application more convenient and faster. The development of new payment systems will strengthen the continuous growth potential of our partners, like Global House. Meanwhile, it also supports the overall growth of the construction material industry and drives the growth of Thai economy."

Krungsri and Global House have worked together to develop and introduce MyPromptQR, a new QR code payment model designed for the business sector to scan customers’ individual QR codes (B scan C), a new feature in Krungsri Biz Mung-Mee. The B scan C service enables customers to make payments easily via a mobile app of any bank by openning MyPromptQR from a mobile app and present to merchants for scanning. The service makes payments more convenient without carrying cash, helps reduce risk and avoid contact, shorten the payment process and time for cashier to take payments, as well as reduce the chance of any error.

In addition, Make a Pay service is also introduced to facilitate online customers using Global House’s mobile app. With a digital technology for direct data connection between Global House stores and Krungsri Mobile Application (KMA) platform, the service makes payments more convenient and secure for online shoppers. Customers can choose to make a payment directly via KMA, and will be notified about details of purchases via KMA (KMA Push Notification).

Mr. Witoon Suriyawanakul, Chief Executive Officer and founder of Siam Global House PCL , said that “Global House gives an importance to the adoption of digital technologies to develop its business, distribution channels, and various payment systems in order to enhance the convenience and speed for customers and support the sustainable growth under the concept of 'All Inclusive for Your House’. The cooperation between Krungsri and Global House reflects our commitment to create value of products and services to meet the different needs of customers in each area. It underlines Global House's vision that aims not only on expanding its growth as the top leader in retail business of construction materials and home improvement segment in Thailand, but also developing the best distribution channel for construction materials and home furnishings in ASEAN countries."

About Krungsri

Krungsri (Bank of Ayudhya PCL and its group companies) is the fifth largest financial group in Thailand in terms of assets, loans, and deposits, and one of Thailand’s five Domestic Systemically Important Banks (D-SIBs) with 75 years of history in the country. Krungsri is a strategic member of the Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group and one of the world’s largest financial organizations. Krungsri provides a comprehensive range of banking, consumer finance, investment, asset management, and other financial products and services to individual consumers, SMEs, and large corporations through 683 branches (643 Banking Branches and 40 Auto Business Branches) and over 33,461 service outlets nationwide. The Krungsri Group is the largest card issuer in Thailand with 9.4 million credit cards, sales finance, and personal loan accounts in its portfolio; a major automobile financing service provider (Krungsri Auto); one of the fastest growing asset management companies (Krungsri Asset Management); and a pioneer in microfinance (Ngern Tid Lor).

Krungsri is strongly committed to the highest level of integrity in conducting its business. All Krungsri Group companies have been awarded accreditation from the Private Sector Collective Action Coalition Against Corruption (CAC) in collaboration with industry peers and stakeholders on a zero tolerance approach to corruption.

About MUFG (Mitsubishi UFJ Financial Group, Inc.)

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo with over 360 years of history, MUFG is a global network with over 2,700 locations in more than 50 countries. The Group has over 180,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.


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