The provider of Rabbit multi-purpose cards wants to make its services "sexier" as it expects new card numbers to rebound to 15-20% growth next year, following a drop during the pandemic.
Usually around 2 million Rabbit cards, used as skytrain tickets and top-up cards for buying food, beverages and services, are issued each year. When the pandemic hit Thailand, that figure decreased to 1.5 million.
Over the past nine years, more than 14 million cards have been issued and more than 550 brands have accepted payments through Rabbit cards.
"We will come back to pre-pandemic growth again," said Ratchanee Saensinchai, managing director of Bangkok Smart Card System, a subsidiary of Bangkok Mass Transit System and the operator of the skytrain system.
Ms Ratchanee based her expectations on more foreign tourists being allowed to travel to Thailand if the pandemic is contained, following distribution of a Covid-19 vaccine.
A drop in foreign traveller numbers and fewer mass transit passengers, especially during the outbreak earlier this year, were the main reasons for the drop in new Rabbit card numbers.
But Ms Ratchanee sees bright prospects for the company, with many projects to be launched next year to boost cardholder numbers and facilitate its usage.
New uses
By the second quarter of 2021, the company plans to launch a mobile application to allow cardholders to check their balance, usage history and top up their card value in seconds.
At present, users can top up at major convenience stores, except for 7-Eleven, but in the future they will be able to "simply touch their cards with the back of their phones to get things done," she said.
Cardholders are only required to link the application with mobile banking services and use phones with near-field communication (NFC) features.
When Rabbit cards can directly interface with mobile phones, "it appears to me that we are making the off-line experience a bit sexier," said Ms Ratchanee.
The new service is primarily aimed to serve cardholders who are familiar with using cards in their daily routines, following the joint venture with Line Corp to develop Rabbit Line Pay for online payments.
She said Thailand is moving towards a digital and virtual world, but during this transition period, "the off-line world is still powerful".
Next year the company expects to be working with a gadget company to make Rabbit the "hottest item" by developing a new type of wearable electronic device, said Ms Ratchanee.
Partnering strategy
The company is continuing a strategy to increase the number of cardholders by putting Rabbit cards into many different contexts.
Aeon Thana Sinsap Thailand, which provides financial services, is joining the company to co-launch Aeon Rabbit credit card, which can be used as a ticket for the skytrain and payments for food and beverages.
The company is also cooperating with real estate developer Sansiri to supply Rabbit key cards to enter its condominiums.
Companies and factories are the next segment to issue Rabbit employee identity cards, following the growing trend of contactless interactions as a result of the pandemic, she said.
Many companies, especially Japanese firms, are concerned over hygiene standards and want to take good care of their workers, said Ms Ratchanee.
"I think this type of employee card will become more popular," she said.
"We don't know after this pandemic disappears, if another will follow."
Rabbit network
The company wants Rabbit cards to cover various types of transport, not just electric trains, as this will lead to more cardholders and more retailers offering Rabbit payment as an option.
"Our goal is to widen our network as much as possible," said Ms Ratchanee.
While waiting to connect Rabbit with MRT electric rail tickets, the company is expanding services to cover some bus routes along tourist attractions and public boats.
Passengers travelling on Phasi Charoen canal and the Chao Phraya River can use Rabbit for tickets, easily connecting their trips with the skytrain and, as part of the company's sales campaign, paying lower fares for some boat types.
The recent opening of the Green Line skytrain extension, stretching from Wat Phra Sri Mahathat in northern Bangkok to Ku Kot in Pathum Thani, and the Golden Line linking Krung Thon Buri skytrain station with Klong San, also create a positive outlook for the company.
"Commuters will increase and so will Rabbit card numbers," said Ms Ratchanee.
There are 700,000-800,000 transactions made through the cards a day, with retail businesses making up 5-10% of the total, she said.