New True app for QR payments
True Group launched True Merchant 4.0 application for free yesterday through its integrated platform for vendors selling online.
The move is expected to help the group to capitalise on the burgeoning cashless payment business, in line with the government's Thailand 4.0 policy.
True has targeted 100,000 merchant downloads this year, especially restaurants, said Tanaphon Manavutiveth, director for customer happiness and relationship management.
"App use will definitely increase customer growth in True's ecosystem, including mobile service, e-wallet, and digital content," Mr Tanaphon said.
The True Merchant 4.0 app is designed for both merchants and customers, and enables customers to scan QR codes at shops and safely make payments for goods and services via TrueMoney Wallet.
Interested merchants can download True Merchant 4.0, on both iOS and Android platforms, at www.trueyou.co.th/truemerchant4.0.
The True Merchant 4.0 application is an integrated digital platform under a collaboration between True Corp's business units TrueYou, TrueID and TrueMoney, a subsidiary of Ascend group.
Ascend Group Co was spun off from True Corporation in 2007 and is a subsidiary of Thailand's Charoen Pokphand Group Co, the parent company of True Corporation.
The latest True Group move comes after global e-commerce tycoon Jack Ma's recent visit to Bangkok.
Jack Ma's flagship unit Alibaba last week signed memorandums of understanding with several Thai government agencies covering cooperation in four areas. The e-commerce giant will invest more than 10 billion baht in Thailand, Southeast Asia's second-largest economy.
In August 2016, Ant Small & Micro Financial Services Group, an affiliate of Alibaba Group, bought a 20% stake in Ascend Money, a subsidiary of Ascend Group. Ant Small & Financial plans to buy an additional 10% stake in Ascend Money in 2018.
Mr Tanaphon said to encourage traditional merchants and shops to download the True Merchant 4.0 app, the company offers special incentives for those who are customers of True Group services.
For every payment of 25 baht, both shops and customers earn one True point, which can be accumulated and exchanged for various merchandise and discounts at shops.
TrueMove H customers who make payment via TrueMoney Wallet on the TrueID application at participating shops will earn 10 times more True points on the 10th of each month (for a maximum of 300 True points per month) from May 10 to Dec 10 this year.
Teerawat Tilokskulchai, managing director of TrueMoney, said the number of e-wallet users in the country last year soared 300% from 2016 thanks to increasing adoption of cashless ecosystems, driven by both government and private players.