Paysbuy, the online payment arm of Total Access Communication (DTAC), is introducing what it claims to be the country's first mobile credit card payment service using smartphones or tablets.
Consumers can download the application into their smartphones or tablets operating Android and iOS platforms free of charge. This will allow them to process transactions from goods or services they bought via mobile devices.
Users need to open a bank account using Visa or MasterCard and add money via what it calls mobile wallet accounts.
Shoppers with credit or debit information stored in their smartphones will pay for purchases by waving the handset past a card reader or tapping it.
"Accepting payments via mobile devices is one of the fastest-growing and easiest ways to process credit card transactions," said general manager Somwang Luangpaiboonsri.
Paysbuy expects 10,000 downloads for the application by the end of this year, he said.
Formed 10 years ago, Paysbuy is wholly owned by DTAC. The company received a licence from the Bank Of Thailand to provide e-money and e-payment services.
Mr Somwang said mobile credit card payments were designed to add another payment channel with more security.
"We believe mobile payments will receive mass market adoption thanks to the wide use of smartphones and tablets," he said.
Mr Somwang said the company's mobile payment service would allow customers to make purchases for goods and services with the Metropolitan Electricity Authority, Metropolitan Waterworks Authority and SF Corporation.
The app has been approved by the Payment Card Industry Data Security Standard, which protects credit card holders' information and personal data.
Paysbuy has 10,900 online merchant members and 500,000 registered user accounts, up from 450,000 early this year.
Mr Somwang said the service would increase the appetite for mobile financial services. Thailand has more than 23 million credit card holders, while 40% of the population have smartphones.
Credit cards account for 35% of transactions, equal to cash. The remaining 30% are e-payments.
Paysbuy targets 35% growth in its online payments this year from 2 billion last year to 2.7 billion baht. The company expects to book revenue of 100 million baht.