Siam Commercial Bank (SCB) continues to take strides in expanding its business cash management business by cooperating with strategic partners in the digital payment gateway business. Recently the bank has collaborated with rapidly growing online payment service operator AirPay (Thailand) Co., Ltd. to help implement total business cash management solutions to strengthen Airpay application and AirPay counter service capabilities. The goal is to become a one-stop-shop for all customer requirements, such as online game top up, shopping, mobile top up, bill payments, movie ticket booking including payment acceptance via mobile point of sale (mPOS) in order to expand payment channels to businesses of AirPay matching digital lifestyles.
Speaking about the collaboration, Mr. Pipat Assamongkol, SCB’s First Executive Vice President & Head of the GTS Solution Sales Specialist and Services Division said that, “SCB has always recognized the importance of using technology to develop financial management systems to increase service efficiency, and is entrusted by many leading firms to provide its total business cash management solutions. SCB is seeking to expand business with digital payment service providers with strong growth potential. Recently SCB received a mandate from AirPay (Thailand) Co., Ltd. to provide business cash management solutions. Currently, AirPay’s payment business can be divided into two channels, comprising its AirPay application and AirPay counter with more than 100,000 members nationwide.SCB will support both receiving and making payment services for AirPay’s merchant network and business partners.
“SCB will serve as a payment gateway to provide bill payment, direct credit, and smart credit for AirPay to accommodate its customers and business partners, while helping increase efficiency and flexibility for business operations. An efficient integrated payment systems will be instrumental to propel AirPay toward achieving its goal of being a true one-stop service provider, which aligns with SCB’s policy of strengthening the potential of its customers.”
AirPay (Thailand) Co., Ltd. Chief Executive Officer Ms. Maneerat Anulomsombat said that after more than two years of service the AirPay system was recognized for extremely safe and stable. SCB will provide financial solutions covering payment and transfers between accounts and businesses and helping both the AirPay Application and AirPay Counter systems work at peak efficiency. In addition to improving the system, the cooperative effort will help meet government policy goals for pushing Thailand forward to a cashless society. While most people have bank accounts, online business transactions and payments are still not that common. This is a good opportunity for the online payment community to work together with SCB with its extensive account experience and knowledge to expand online transactions through AirPay even further.