MasterCard reaches wider segment of Thais with triple telco prepaid collaboration

Collaborations with AIS, PAYSBUY and TrueMoney to launch prepaid cards via mobile gives Thais without credit cards access to formal financial services

           MasterCard is the first payment technology company in Thailand to successfully partner with AIS, PAYSBUY and TrueMoney, the country’s three major telecommunications companies (telcos), to launch prepaid cards linked to mobile wallets. The collaboration, which is one of MasterCard’s largest telecommunications collaborations in Asia Pacific in terms of number of subscribers, enables Thailand’s 93.7 million mobile network subscribers to enjoy safer, easier, and more rewarding payment options at any merchant that accepts MasterCard payment cards, either offline or online.
          The launch of prepaid cards with these three telcos also gives subscribers access to the growing e-commerce market, which is expected to expand by 30% this year[1]. Customers will be able to shop with ease, assured that their expenditure will remain within the pre-loaded amounts.
          Antonio Corro, country manager, Thailand and Myanmar, MasterCard said, “We are excited about the collaborations with AIS, PAYSBUY and TrueMoney because it helps to achieve financial inclusion, or providing access to financial services to a wider segment of Thais. Launching prepaid products with the strongest telecommunications companies in the country expands our service offering by reaching consumers without credit cards. Thai consumers are increasingly accepting mobile shopping and through these partnerships, we will provide MasterCard cardholders additional value-added payment options and access to the online marketplace, while further expanding our presence in Thailand.”
These collaborations meet the needs of Thai consumers who are increasingly embracing the use of mobile phones to purchase products and services online. 77% of Thai consumers currently access the internet on their smartphones for an average of 6.6 hours per day[2] and 51.2% are spending that time shopping online via their smartphones, as demonstrated in the latest MasterCard Online Shopping Behavior Study.
          In addition, Thais are confident in mobile shopping as demonstrated by Thailand’s consumer scores revealing a higher–than–average familiarity, willingness, and usage frequency of all types of mobile payments inMasterCard’s Mobile Payments Readiness Index, a data-driven survey of the global mobile payments landscape.
          The prepaid services powered by MasterCard in Thailand are summarized as follows:
          AIS, which has 42 million subscribers, launched AIS mPAY MasterCard in September 2013, Thailand’s first virtual prepaid card innovation for AIS customers to purchase goods online that can be used through the mPAY application, which currently has 500,000 users.
          PAYSBUY, a subsidiary of DTAC, which has 30.6 million subscribers, launched PAYSBUY MasterCard, a virtual prepaid card in August 2014 that can be used through both website and the PAYSBUY Wallet application, which has 500,000 users.
          TrueMoney launched WeCard, the first prepaid MasterCard available in both physical and virtual forms can be used through the TrueWallet application, which has 400,000 users. True currently has 21.1 million subscribers.
          Pratthana Leelapanang, Executive Vice President Marketing of Advanced Info Service (Public) Company Limited or AIS said, “AIS mPAY MasterCard, an online shopping card, was formulated with the concept ‘online shopping, secure, anyone can shop,’ for every customer group to purchase goods online from the websites with the MasterCard symbol, safe and worry-free with no credit card. This is Thailand’s first prepaid innovation for banking transactions. In addition, we partnered with leading merchants to provide exclusive promotions to our users.”
          Somwang Luangphaiboonsri, general manager of PAYSBUY Co., Ltd. said, “Currently, PAYSBUY has around 500,000 members, 45% which are between the ages of 15-30. They are trendy, love shopping, and want to control their own spending…The new service, we believe, will offer more convenience to our existing users as it allows them to buy from online stores where MasterCard is accepted.”
          Punnamas Vichitkulwongsa, managing director of TrueMoney Co., Ltd. said, “The new offering allows customers to purchase products and services via electronic channels, with enhanced security and convenience, while enjoying promotional incentives from participating merchants…We expect the number of WeCard by TrueMoney customers to reach 500,000 people by the end of 2015.”
Prepaid cards provide no restrictions on how funds are spent and are available to Thai consumers through mobile applications. The advantages include increased safety for the consumer who does not have to worry about carrying—and potentially losing—cash as well as better control of spending by adhering to amounts loaded onto the cards.

MasterCard reaches wider segment of Thais with triple telco prepaid collaboration

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