Miss Ninlawan Jeeraboon, Krungsri Head of Transaction Banking Group said: "At Krungsri we are focused on developing new solutions to create a better experience for our customers. We have provided our strong financial network in Thailand to Stripe in another important step to boost end-to-end digital transactions in the country. This is in line with our goal of playing a major role in developing and laying the foundations for a comprehensive digital infrastructure and economic ecosystem. This includes expanding our network to enable domestic and global business expansion, while also increasing the value and benefits of the products and services that we offer to our customers."
Mr. Tee Chayakul, Country Director of Stripe Thailand, said: "Stripe was looking for a banking partner in Thailand that was aligned with Stripe's mission to grow the internet economy and could support Stripe's ambitions to help more Thai businesses launch quickly and scale fast. We chose to partner Krungsri, one of the top banks in Thailand, as they were able to meet our needs to provide secure, convenient and fast online transactions for businesses in Thailand."
Businesses in Thailand can now apply to use Stripe to accept online payments, make payouts, mitigate fraud, and expand globally to reach customers all around the world. This is supported by the strategic partnership with Krungsri. This partnership comes as Thai businesses are accelerating their digital modernization, and increasingly looking for support outside their own organizations to start fast and scale globally.
"Our aligned vision means both Krungsri and Stripe want to develop an effective online payment system that eliminates the hassle of the paperwork and creates a completely automatic transaction system. This will give Thailand's e-commerce industry the opportunity to thrive sustainably, and is an essential requirement needed to accelerate the financial ecosystem of the future and contribute to the health of Southeast Asia and Thailand's economy," Miss Ninlawan concluded.
Source: Spark Communications