'Point Pay' a boon for merchants
published : 16 Sep 2021 at 04:00
newspaper section: Business
Advanced Info Service (AIS), the country's largest mobile operator by subscribers, has partnered with Krungthai Bank to launch the "Point Pay" project amid the Covid-19 crisis, offering assistance to small merchants and restaurants across the country.
The joint collaboration enables 43.2 million AIS customers to redeem AIS points as a cash discount for purchases through the Tung Ngern app with two points representing a discount of one baht.
The Tung Ngern app, overseen by Krungthai Bank, enables retail shops to receive e-payments, including those tied to government assistance programmes.
Somchai Lertsutiwong, AIS chief executive, said the firm is committed to economic revival and helping society with digital innovations.
"It is a core commitment during the Covid emergency as the pandemic has affected all sectors, especially small restaurants," he said.
"This collaboration with Krungthai Bank aims to stimulate consumer spending and generate income for small merchants across the country to help them continue their business during the pandemic. At the same time, AIS customers save by exchanging their reward points for cash discounts."
The 'Point Pay' project will offer assistance to small merchants and restaurants.
Payong Srivanich, president of Krungthai Bank, a commercial lender that is largely owned by the government, commented that the bank was dedicated to using technology and innovation to develop financial products and services to enhance the quality of life of all groups of customers.
"Services must meet the needs of modern lifestyles and support national economic activities," he said.
Over 17 million AIS customers are now in the AIS points programme. Some 1.5 million shops have joined the Tung Ngern app.
The project's first phase will involve 45,000 food and beverage outlets in 15 provinces then gradually expand to other types of shops. The goal is to include over 700,000 participating stores nationwide.