Counter Service seeking microfinance opportunity | Bangkok Post: business

PAYMENT SYSTEMS

Counter Service Ltd, a bill payment service provider, plans to expand into microfinance lending to maximise benefits from its strong infrastructure of 7,000 outlets nationwide and its real-time IT system, says deputy general manager Lalada Dechatiwong Na Ayuthya.

The subsidiary of the 7-Eleven operator CP All Plc proposed its microfinance plan to the Bank of Thailand last year and is awaiting a decision. A response could depend on clarification of microfinance business regulations under the country's Financial Master Plan II.

Counter Service currently offers a wide range of bill-payment services. Providing micro-lending would be a new business opportunity, through outsourcing services for consumer loan applications to financial institutions, said Mrs Lalada.