Mr. Tosapong Rangkawara, Head of Card Product and Portfolio Management Division, "KTC" or Krungthai Card Public Company Limited, stated, "after the COVID-19 crisis, credit card spending behavior has shifted significantly as cardmembers are more familiar with contactless payment. As a result there has been a consistent growth in the number of contactless spending cardmembers and transactions. In the first quarter of 2023, the number of cardmembers spent with contactless method accounted for 70% of all cardmembers which is a 5% increase compared to pre-COVID-19 in 2019. This trend tends to continue in the future. Meanwhile, the number of contactless transactions via KTC card has grown 60% year over year."
"KTC reconfirms its position as a leader in Device Pay (a payment gateway through watches and electronic devices) by joining forces with Swatch to launch SwatchPAY! that redefines the scope of watches with a to pay feature with a KTC credit card. This team-up adds a new contactless payment channel for cardmembers with an emphasis on security with the Tokenization feature. SwatchPAY! is available for both KTC VISA and KTC MASTERCARD credit cards. Exclusively for the launch, KTC has also prepared special privileges for cardmembers between 4 April to 30 June, 2023 as follows:
1) Redeem KTC FOREVER points for 20% cash back and get a lanyard from Swatch worth 500 baht upon purchasing a watch from SwatchPAY! collection with any KTC VISA or KTC MASTERCARD credit card and linking the card on the SwatchPAY! application. This offer is available at participating Swatch stores within the day of the transaction. Find more details at https://ktc.promo/ktcswp.
2) Earn up to 3,000 KTC points throughout the promotion period upon making at least 3 transactions/month with a KTC VISA credit card via SwatchPAY! at any merchant with the contactless payment signage. For more information, please visit https://ktc.promo/visa-swatch-pay"
Mr. Kris Bhimayothin, Country Manager, The Swatch Group Trading (Thailand) Limited, revealed, "Swatch is a Swiss watch brand established in 1983. We always strive to improve both in terms of design and innovation. We recently launched SwatchPAY! which is an important feature in watches that have been developed to match the lifestyle of modern people. This latest feature meets the needs of a cashless society but still retains Swatch's unique analog design. SwatchPAY! is also widely available in a variety of collections to cater to Swatch fans."
SwatchPAY! operates with an NFC (Near Field Communication) chip mechanism that is found on all credit card chips to support the contactless payment system. It is completely automatic and does not require batteries to give it power. Simply hover the watch close to the credit card reader at checkout. The credit card device will communicate with the chip in the SwatchPAY! watch to quickly and safely exchange payment information. In case the watch goes missing, users can suspend the payment function through SwatchPAY! mobile application. There are 2 ways to activate the SwatchPAY! function: self-activate by following the steps on the SwatchPAY! application, or activate with an employee at all Swatch branches.
For more information, please contact KTC PHONE 02 123 5000 or visit www.ktc.co.th. To apply for a credit card, visit any "KTC TOUCH" branches nationwide or click the link: https://bit.ly/apply-ktc.
Source: Krungthai Card
