True Corporation has transferred its digital content and online businesses to parent firm Charoen Pokphand Group in a bid to become an internationally recognised brand.
"We intend to become a regional player in Southeast Asia," said Raden Trevisute, assistant director for product management at True Money Co, the e-wallet and mobile payment arm of True Corporation.
He said a holding company called Ascend Holding would be set up next month.
The existing three digital content and online operating units of True Corporation — True Money, True Internet Data Center and True Digital Content and Media Co — will fall under the umbrella of the new holding company.
Mr Raden said Ascend was intended to expand the group's online businesses abroad through acquisitions and joint ventures.
True Money recently entered into a joint venture with Myanmar's Asia Green Development Bank and acquired a company in Cambodia.
"We believe the arrival of the Asean Economic Community will further stimulate the use of e-money,' Mr Raden said.
He said True Money expected to more than triple its number of active customers to 1 million by year-end from 300,000 now.
The company expects 2015 revenue will reach 2.5 billion baht.
Transaction fees from utility bill payments and mobile airtime refills are major revenue sources.
To achieve the goal, Mr Raden said True Money planned to promote the use of its WeCard, a service that enables users to shop online without having to use a credit card in a collaboration with MasterCard and Thanachart Bank.
Customers can buy the WeCard at 7-Eleven convenience stores, then download True's online shopping app via their mobiles operating on either the Android or Apple iOS system.
They are required to fill the card with money, then use it to purchase items.
True Money product manager Apinand Dabpetch said the company had also collaborated with other e-commerce websites to provide attractive promotions to increase sales.
"Online shopping and payment services will be the future of True Money," he said, adding that the market still had high growth potential, helped by the proliferation of smartphones and smart devices.
He said True Money was the first company in Thailand to win the M-Wallet of the Year award by Paybefore, an information provider to the prepaid mobile and emerging payments industry.
Mr Raden also said True Money, AIS's mPay and DTAC's Paysbuy are in talks for the possibility of allowing users to transfer money across mobile networks.
To boost the use of e-payments, he urged the Bank of Thailand to develop infrastructure for reforms in the payment system such as a shared electronic data capture terminal base, similar to the establishment of an ATM pool.