TrueMoney Reinforces Its No.1 of e-Wallet, Leads the Market With Over 7 Million Users

Information Technology Press Releases Tuesday October 2, 2018 13:27
กรุงเทพฯ--2 ต.ค.--FAQ
Expands Services To Embrace Cashless Society Lifestyle Covering 100,000 Payment Acceptance Points and "Lucky Bag" Campaign With Promotions

TrueMoney, Thailand's Number 1 e-Wallet, recorded total processing value (TPV) of over THB 70 billion during the period of January to August 2018, with over 7 million users, with two folds increase of active users. This also brings TrueMoney Wallet towards the trend of "Everyday Payment: The new effortless payment lifestyle", that provides access to a wide range of services from via it's Online-to-Offline (O2O) strategy. In addition to providing special promotional deals & privilege offers, TrueMoney is also planning to expand its payment channels and to proceed through with its planned massive collaboration with more than 100,000 payment acceptance points, covering individual shops, retail establishments and branches to support the trending cashless society lifestyle.

Mr. Tanyapong Thamavaranukupt, Co-President, Ascend Money Company Limited said, "An overview of last year's results has indicated that TrueMoney is the fastest growing fintech firm in Southeast Asia. Currently, we have served over 21 million users across Thailand, Cambodia, Myanmar, Vietnam, Philippines, and Indonesia, and recorded over THB 140 billion in total processing value. By leveraging a hybrid operational model that combines Payment and Financial Service, we have been able to seamlessly handle cultural and behaviour requirements unique to the six different countries that we operate in. Apart from Thailand, we have a network of more than 50,000 agents across 5 Southeast Asian countries. This enables us to continue innovating and creating a practical financial platform that enables everyone to access the most cutting-edge, convenient and secure financial services possible, which leads to better lives."

Miss Monsinee Nakapanant, Co-President, Ascend Money Company Limited said, "Our recognition as Thailand's Number 1 e-Wallet service provider stems from our ability to allow customers to make convenient, fast and secure transactional experiences via e-Wallet payment. Now, we have over 7 million users which has met the company's lofty objectives. Moving towards the end of 2019, we expect to maintain two folds growth. As today's everyday Payment Platform tends to meet and cover every transactional needs, whether it's mobile top-ups, bill payments, shopping online and digital content with an aim to delivering a deep level of convenience, agility and protection across the platform that best supports both the consumers' and retailers' payment options."

Mr. Teerawat Tilokskulchai, Managing Director, True Money Company Limited (Thailand) said, "The success of TrueMoney stems from our ability to identify and understand the diversity of our user's behaviours when it comes to using an e-Wallet payment platform for various transactional purposes daily, whether it's on food products, transportation, digital-content access or mobile top-ups and bill payments. From our over 100,000 payment acceptance points, our new goal is to expand the partnership from key accounts to retails in order to drive to true cashless society. In addition we have launched the 'Welcome Bonus' campaign for new users that they will get an instant THB 20 after the first log-in. Furthermore, there is the special 'Lucky Bag' campaign that every THB 30 spent with TrueMoney Wallet at any shops in the program, customer can scan the 'Luck Bag' QR code to win up to THB 10,000 cash reward. The total value of the prizes is over THB 20 million.

About TrueMoney
TrueMoney is Southeast Asia's leading fintech company providing financial services for the digital and unbanked consumers across 6 countries in Thailand, Cambodia, Myanmar, Vietnam, Philippines, and Indonesia.

Established in 2003, became a part of Ascend Group in 2014. TrueMoney has 2 shareholders, Charoen Pokphand Group (C.P. Group), a global conglomerate operating agri-food, retail and telecommunications businesses and Ant Financial Services Group, a tech company dedicated to using technology to bring the world equal opportunities.

TrueMoney provides extensive e-Wallet services, agent networks, offline payment, that enable millions of Southeast Asians with access to innovative financial services, leading to better lives.

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