SCB of­fers QR pay­ment at noo­dle fran­chise shop

Bangkok Post - - BUSINESS - SOMRUEDI BANCHONGDUANG

lender by to­tal as­sets and No.2 in dig­i­tal bank­ing, aims to ex­pand the num­ber of mer­chants re­ceiv­ing QR code pay­ment to 2 mil­lion by the end of the year, with 100,000 which of­fer­ing credit card e-pay­ments. Last year, SCB had 1.3 mil­lion mer­chants of­fer­ing QR code pay­ments, of which 18,000 re­ceive QR code credit cards. The bank does 2 mil­lion monthly trans­ac­tions a month worth 2 bil­lion baht. It aims to grow to­tal vol­ume to 6 mil­lion trans­ac­tions per month worth 6 bil­lion baht by the end of the year. This year, SCB plans to pri­mar­ily ex­pand QR code pay­ments to busi­nesses con­duct­ing lower-value trans­ac­tions in the food and bev­er­age cat­e­gory. “We aim to ex­pand to 30 fran­chise brands this year from one brand now, and fo­cus on the street food seg­ment Siam Com­mer­cial Bank (SCB) is of­fer­ing credit card-based QR code pay­ment at lo­cal noo­dle fran­chise shop Chy­see Mee Kiew, pro­vid­ing a credit line of up to 45 days — un­usual among most QR code e-pay­ments, which draw from sav­ings ac­counts. The bank launched the ser­vice at 378 Chy­see Mee Kiew shops, mostly in Bangkok and sur­round­ing ar­eas. It ex­pects to ex­pand QR code pay­ments to 2,000 noo­dle fran­chises dur­ing the first half of this year, out of 4,300 shops to­tal, said Pim­jai Tong­mee, ex­ec­u­tive vice-pres­i­dent for sales and de­liv­ery. The bank ex­pects its dig­i­tal pay­ment ser­vice will cover 10% of to­tal trans­ac­tions at the noo­dle shops, although it will take time for cus­tomers to change their spend­ing be­hav­iour, she said. SCB, the coun­try’s sec­ond largest with small ticket sizes be­gin­ning from 30-40 baht per trans­ac­tion,” Ms Pim­jai said. Thai­land’s street food busi­ness had a to­tal mar­ket value of 20 bil­lion baht in 2017 and is ex­pected to grow to 340 bil­lion baht by 2020. Chy­see Mee Kiew rep­re­sents a 20% mar­ket share in terms of street food fran­chise busi­nesses. It plans to ex­pand the busi­ness into re­gional mar­kets in­clud­ing Cam­bo­dia, Laos, and Myan­mar this year. SCB also pro­vides to­tal dig­i­tal pay­ment so­lu­tions to Chy­see Mee Kiew, cov­er­ing the com­pany’s to­tal sup­ply chain in­clud­ing fran­chisees. The bank hopes to in­crease mo­bile bank­ing users to 12 mil­lion by the end of the year.

The bank has launched the ser­vice at 378 Chy­see Mee Kiew shops.

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