Krungthai Bank (KTB) aims to issue 100,000 dual-chip debit cards by year-end, letting holders pay public transit fares and buy goods and services with a single card.
Interested parties can apply for a Mangmoom (spider) card, a collaboration of KTB and the Mass Rapid Transit Authority (MRTA), at bank branches from Sept 27.
KTB president Payong Srivanich said Mangmoom holders will be able to top up money via Krungthai Next, KTB's mobile banking platform, from this month for convenience and security.
KTB, the country's third-largest lender by assets, will offer promotional campaigns for Mangmoom holders by waiving the 100-baht entry fee and giving 30 baht in cash back per month for every 300-baht top-up, with a cap of 90 baht a month, until November.
"The co-branded card is part of the government's e-payment scheme in order to give consumer more convenience rather than the bank's income generation," Mr Payong said, adding that KTB's total debit card base is about 14 million.
The MRTA and KTB officially launched the Mangmoom debit card yesterday. One chip will enable public transport payment, and the other will be used to pay for goods and services.
The Mangmoom debit card will initially be available for the Blue and Purple lines before being extended to the Airport Rail Link, Bangkok Mass Transit Authority (BMTA) public buses and Chao Phraya Express boats under the common ticketing system later, said MRTA governor Pakapong Sirikantaramas.
Mr Pakapong said the skytrain operator, Bangkok Mass Transit System Plc (BTS), has shown interest in synching with the common ticketing system.
When and if the BTS adopts the Mangmoom card, it will need to invest in card readers, he said.
The public will be able to access the MRT Purple and Blue lines, the Airport Rail Link network and 2,600 BMTA buses with the use of a single card, while the second phase will involve establishing a common fare for each transport mode by the end of next year.
KTB shares closed yesterday on the Stock Exchange of Thailand at 20 baht, up 30 satang, in trade worth 1.65 billion baht.