AIS-Krung Thai team up to save small merchants in crisis with Tungngern App "Point Pay" program with AIS Points enables 43.2m AIS subscribers to help the nation Redeeming points for cash discounts to stimulate local economies all over Thailand Starting t

Tuesday 14 September 2021 10:07
Over a year of the Covid crisis has impacted economic growth, forcing every sector to adapt and combine strengths to keep Thailand moving. In particular, there has been assistance for small merchants and restaurants. AIS and Krungthai Bank have now created a channel giving extra sales opportunities to small "Tungngern" merchants. They are now able to receive payments through the Tungngern Application by the redemption of AIS customers' points with no fee, and the "Point Pay" program begins today.
AIS-Krung Thai team up to save small merchants in crisis with Tungngern App Point Pay program with AIS Points enables 43.2m AIS subscribers to help the nation Redeeming points for cash discounts to stimulate local economies all over Thailand Starting t

Somchai Lertsutiwong, CEO of Advanced Info Service plc. (AIS) said, "AIS policy is focused on national economic revival and social assistance, over and above developing the best digital services. It is a core commitment which we are implementing as a matter of extreme emergency, because the pandemic has been raging for over a year and impacting every sector. In particular, small restaurants in communities are affected by reduced spending power, and the necessity of self-isolation to reduce infection risk. Our response is to exploit our strong digital network and customer base of 43.2 million subscribers, to help out a large number of small shops and restaurants, who are a critical mechanism driving the local economy. At the same time, we can reduce spending burdens of AIS customers.

"Teaming up with Krungthai Bank on this occasion is a crucial collaboration combining a leading telecom and digital services provider with a foremost representative of the banking sector. Together we are launching Point Pay, which uses AIS Points to help the country by stimulating spending. This generate incomes for Tungngern merchants nationwide, helping them stay in business. Meanwhile, AIS customers get to save by redeeming their points for cash discounts."

Payong Srivanich, President of Krungthai Bank, commented that Krungthai Bank is a commercial bank with a majority government shareholding. As such, the bank is dedicated to applying technology and innovation to develop financial products and services which improve quality of life for every customer group. Services must meet the needs of modern lifestyles and support national economic activity. Most recently in the economic downturn caused by Covid-19, the bank is collaborating with Advanced Info Service plc. (AIS) to launch the Point Pay program. This assists small shops nationwide to sell more products by allowing 43.2 million AIS customers to redeem their accumulated points for cash discounts at Tungngern merchants. The network of Tungngern merchants comprises 1.5 million shops. The first phase will pilot with 45,000 food and beverage outlets in 15 provinces before gradually expanding to other types of shop, with a target of over 700,000 participating shops nationwide. The program will stimulate sales for small shops in communities, and help them to stay in business or even grow during a slowing economy.

"This cooperation combines the assets of Krungthai's strong digital infrastructure and multiple service channels, with AIS' mobile phone network reaching customers everywhere in the country. We have developed a service which meets the needs of both companies' customers, and be crucial to economic and social sustainability."

The Point Pay program of AIS and Krungthai stimulates spending from AIS' 43.2 million customers on products purchased from all formats of Tungngern shops all over Thailand. They can join the program through the Tungngern Application to become a channel receiving payment for goods and services from AIS customers redeeming their AIS Points for cash discounts (valued at 2 points = 1 baht). Customers may choose to pay the full amount with points, thus not requiring cash, or redeem AIS points together with cash, being able to spend any of their existing points. Over 17 million AIS customers are currently in the AIS Points program.

Small shops who are already Tungngern merchants will receive an updated Point Pay menu. After this is confirmed, they can receive payments from the Point Pay program immediately. AIS and Krungthai kick off the first phase of the program today with approximately 45,000 participating Tungngern merchants in the food and beverage category from 15 provinces. The target is to extend the program to over 700,000 merchants nationwide. For more details see www.ais.th/พอยท์ช่วยจ่าย and krungthai.com/link/pointpay

Somchai and Payong jointly affirmed, "We sincerely hope that the synergy between our two organizations will be a part of stimulating the national economy, and will inspire further efforts to assist other industries and overall economic recovery."

Source: AIS

AIS-Krung Thai team up to save small merchants in crisis with Tungngern App Point Pay program with AIS Points enables 43.2m AIS subscribers to help the nation Redeeming points for cash discounts to stimulate local economies all over Thailand Starting t