Thailand-based consumer financial services company Krungthai Card Public Company Limited (KTC) has partnered with China-based technology firm Ant Group to launch ‘Alipay+’, a suite of global cross-border digital payment and marketing solutions, on KTC’s payment gateway.

KTC said in a statement that this latest innovation aims to expand KTC’s Thailand merchant business and accommodate spending from Asian tourists to Thailand through three new Alipay+ partner mobile wallets: AlipayHK, Touch ‘n Go eWallet, and Kakao Pay.

According to the statement, KTC’s payment merchant business is set to grow by 20 percent this year.

King Power and The Mall are two partners in duty-free and retail businesses, that have joined forces and are ready to be the first to offer Alipay+ payment service on the KTC system.

According to KTC Merchant Acquiring Head Naowarat Keratikasemsook, KTC member merchants currently can accept payment for products or services via mobile wallet QR
codes in the Alipay+ ecosystem.

This includes Alipay (for Chinese citizens) which launched in Thailand since 2015 as well as the recent addition of three new mobile wallets that support transactions in Thailand, namely AlipayHK (Hong Kong), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia).

All four mobile wallets meet the needs of the top four foreign tourists who travel to Thailand which include Malaysia, China, South Korea, and Hong Kong, she said.

These tourists totaled 2.9 million in number, accounting for one-third of the total 8.6 million tourists who visited Thailand in the first four months of this year (January-April 2023), she noted.

“KTC and Ant Group have been partners since 2015. The start of the partnership began with the Alipay payment service (for Chinese citizens) and we recently expanded through Alipay+, which will allow merchants to accept a wider range of digital payments with convenience and security as a priority,” she added.

She also said that in the second half of this year, business operators who use KTC’s Alipay+ payment service include King Power, The Mall Group, Boots Thailand, and many other merchants.

According to her, during January to May, the payment volume of credit cards and Alipay Wallet in KTC merchants increased by 27 percent to over 40 billion baht ($1.13 billion), which is in line with the economic outlook and tourism industry in the country which continues to recover.

She opined that by the end of 2023, the payment volume of credit card, Alipay Wallet and Alipay+ will grow by 20 percent as targeted.

“KTC aims to expand its merchant base including those that accept credit cards, Alipay, and Alipay+, to meet the needs of cross- border payments to cover more of both Bangkok and tourist target areas such as Chiang Mai, Pattaya, Chonburi, Phuket, Hat Yai, and more,” she added.

Sittipong Kittiprapapong, General Manager, Global Merchant Partnership, Thailand Ant Group, said the firm continues to strengthen its partnership with KTC by helping them integrate Alipay+ across their merchant network and support the digitalization efforts of Thai businesses.

“Asian travelers can now enjoy easier payment options at some of their favorite shopping destinations like King Power and malls under The Mall Group,

“Together with our local partners in Thailand, we will continue to help local businesses connect with international visitors, ensuring we drive more growth opportunities for merchants while enhancing the travel experience here,” he added.

Alipay+ is a digital payment that enables businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods.

Its services support these businesses to reach 1 billion regional and global consumers, through one-time integration and simple technical adaption.

In addition to payments, Alipay+ also provides Alipay+ D-store and other marketing solutions to help merchants reach and engage with consumers pre-trip.

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