Bangkok Bank further develops BeWallet, becomes first in Thailand to provide QR Code cross border payment via mobile app while reinforcing its status as leading provider of digital payment solutions
Bangkok Bank further develops its BeWallet application to meet the needs of Thai people travelling abroad. The upgraded BeWallet application allows customers to link their deposit account, debit card or credit card to scan Quick Response (QR) Code to pay for goods and services while abroad. The Bank joined UnionPay International and Thai Payment Network (TPN) to launch the UnionPay QR Code By Bangkok Bank, a QR Code cross border payment service via mobile phone, which offers convenience and safety without customers having to worry about exchange fees. The service will be available from August 31, 2021, onwards. The Bank is confident that the service will meet the needs of travelers when countries are open for tourism again.
Bangkok Bank Executive Vice President, Manager Credit Card Division, Shoke Na Ranong said that Bangkok Bank has continuously developed a wide range of solutions to reduce restrictions on the payment of goods and services while supporting the market and serving the lifestyles of today's customers which are constantly changing. This is to reinforce the Bank’s status as the “first mover” and a leading provider of “digital payment total solutions”. Recently, the Bank has further developed the BeWallet app to make it easy to make payments abroad by linking the app to a Bangkok Bank deposit account, debit card or credit card. Customers can simply open the app and scan the QR Code at stores to pay for goods conveniently and safely without having to carry cash or credit card.
The Bank is collaborating with UnionPay International and Thai Payment Network (TPN) to introduce a form of payment for goods and services via the UnionPay QR Code By Bangkok Bank by using the BeWallet app linked to a deposit account to scan a QR Code to pay for goods and services at more than 30 million merchants within the UnionPay QR Code network in 45 countries and regions including popular destinations such as China, Singapore, Australia, Japan, New Zealand.
Mr Shoke said, “The UnionPay QR Code By Bangkok Bank is developed using cross border mobile payment technology. Once a bank account is linked with the BeWallet app, customers can make payments with a UnionPay QR Code. This offers customers an alternative for convenient spending and secure payment. Customers can pay for goods and services globally even without credit cards. Especially when people travel overseas, this innovation can ease their worries about having to exchange money or carrying a lot of cash. With this service, customers can scan and make payments in a local currency at the Currency Real Time rate which means the payment amount deducted from the account uses the exchange rate at transaction time. So, customers don’t have to worry about currency fluctuation and can enjoy a lower exchange rate than when using a credit card.”
UnionPay QR Code By Bangkok Bank will be available on August 31, 2021. Customers can use the service via the BeWallet app. To make it more convenient, customers will be able to use the service via Bangkok Bank Mobile Banking soon.
This service does not only serve the needs of people traveling overseas. Customers who enjoy making online purchases via e-commerce from overseas merchants also can use the BeWallet app and the UnionPay QR Code By Bangkok Bank to make payments. This is an important opportunity for the Bank to access this group of customers who are familiar with digital payment channels. Information from the Bank of Thailand shows overseas online transactions made by debit cards in 2020 amounted to 30 million transactions, a 25% increase, totaling 17 billion baht.
“The Bank is confident that the BeWallet app together with the UnionPay QR Code By Bangkok Bank will benefit both customers making online purchases from overseas merchants and those traveling overseas where they can now make payments conveniently and securely. This is in line with customer behavior in the New Normal era as they are cautious about physical contact including with cash or cards. So, payments made with digital systems and QR Code scanning using a mobile phone fit well within this behavior. Once the Covid-19 situation improves, and many countries and reigions, including Thailand reopen for domestic and international travel, the BeWallet app and the UnionPay QR Code By Bangkok Bank will be one of the payment services from Bangkok Bank ready to support customers to live their normal lives,” said Mr. Shoke.
Mr Huiming Cai, General Manager, UnionPay International Southeast Asia said “UnionPay International is delighted that users of BeWallet will soon be able to make UnionPay QR Code payment around the world when travel reopens. As a leader in enabling QR Code for payment globally, UnionPay International works closely with Bangkok Bank and TPN to ensure that Thai customers can make UnionPay QR Code payment in a quick, safe and easy manner anywhere they travel to. In addition, UnionPay QR Code uses the EMVCo specification which is in line with global payment security standards. Our continuous push to encourage usage of QR Code payment will play an important role in promoting a more hygienic and inclusive cashless environment.”
Ms. Vipawan Yongvikul, General Manager, TPN said, “As Thailand’s first electronic payments network for local debit cards (Local Card Scheme), TPN is very pleased to join Bangkok Bank and UnionPay International in supporting this service. It’s the first time in Thailand that customers can directly link Bangkok Bank savings accounts with the mobile app BeWallet and use it to make international payments using QR Code across over 30 million UnionPay International’s merchant network globally, adding more payment options on top of debit and credit cards. This is a financial innovation that meet customers’ needs as it’s convenient, fast, secure and cost-effective. The company is confident that this service will be well-received by customers wanting to travel overseas.”
Interested customers can download the BeWallet app, available in both Android and iOS, and find more information about UnionPay QR Code By Bangkok Bank or the Bank at Bangkok Bank channels including Bangkok Bank’s website, Bangkok Bank LINE Official or call Bualuang Phone 1333 or 0 2645 5555.