K PLUS users can now make payments via scanning UnionPay QR Code
KASIKORNBANK (KBank) is making greater inroads into the international travel market after many countries have reopened their borders to tourists. To this end, KBank has partnered with UnionPay International (UPI), a leading payment services provider, to offer K PLUS users greater convenience in making QR cross-border payments at more than 30 million merchants in more than 40 countries/regions worldwide. Aside from the ease of not having to carry cash when travelling, K PLUS users making QR cross-border payments will enjoy the reasonable forex rate, with no service fees or minimum spending amount required, while they can also spend up to 100,000 Baht per day.
Mr. Pipatpong Poshyanonda, KBank President, said that customers have become more familiar with cashless and contactless payment. The number of QR Code payment transactions via K PLUS has grown at a leaping pace in recent years. In March 2022, such transactions in Thailand totaled more than 38 million, a 9.7-fold increase over the figure reported before the emergence of COVID-19 in March 2020.
KBank’s cooperation with UnionPay – the world’s leading payment services provider – has played an important role in the Bank’s strategy to enhance the potential of K PLUS with respect to cross-border payment services, which are responsive to flourishing tourism activities worldwide as more countries have opened their borders to visitors. The launch of QR cross-border payment on K PLUS via UnionPay will offer more convenience and security for the 18 million users of K PLUS who will no longer have to carry or exchange cash during their trips. Pay points are available at more than 30 million merchants in more than 40 countries/regions worldwide that are favored tourism destinations, for example, the US, the UK, China, South Korea, Singapore, Japan and Malaysia. For customers without credit cards or debit cards, this feature will provide them a new payment option.
Mr. Huiming Cai, General Manager, UnionPay International Southeast Asia said “K PLUS is the number one Mobile Banking in Thailand, used by over 18 million in the kingdom. We couldn’t be more pleased that the users of K PLUS can now make UnionPay QR Code payment in more than 40 markets outside Thailand and around the world. The timing of this launch is perfect, when borders are opening up and when Thai people are starting to travel again, especially to their favorite destinations like Japan, Singapore, South Korea, The UK, and The USA, just naming a few. When traveling in these markets and more, K PLUS users can simply use their Mobile Banking to scan UnionPay QR Code at merchant payment terminals, leaving behind clunky foreign currency notes and coins. I am also heartened that our launch today represents a deepening of relationship with KBank, our long standing partner in Thailand, who already issues a wide range of UnionPay Debit and Credit cards. I am sure today’s launch marks the beginning of more collaboration with KBank to come, to meet the changing payment needs of Thai people and businesses.”
QR cross-border payment via K PLUS is easy, convenient and secure, with no fees or minimum amount required, while the maximum spending amount is 100,000 Baht per day. Simply follow these payment methods:
1.Use K PLUS to scan QR Code at merchants displaying the UnionPay QR or Yun Shan Fu sign, enter the amount in the country’s currency, then verify and confirm payment; or
2.Open QR Code on K PLUS for merchants to scan by selecting “QR to Pay” and “Country”, verify amount and exchange rate, then confirm payment.
