Advanced Info Service (AIS) is teaming up with Krungthai Bank Plc (KTB) to enable its customers to use AIS points for cash discounts when making purchases at more than 400,000 shops linked with the bank’s Tung Ngern app.
AIS said the effort aims to support small shops and power the local economy.
Around 1 million shops are expected to participate in the Point Pay programme linked with Tung Ngern app by the end of this year, said both companies.
KTB’s Tung Ngern app enables retail shops to receive e-payments, including those tied to state assistance programmes.
Tawatchai Cheevanon, senior executive vice-president and head of KTB’s global transaction banking group, said Point Pay combines the strengths of the two firms to deploy innovations and technology to develop products and services that meet customers’ needs.
The Point Pay scheme leverages KTB’s tech strengths on the channel to receive payments for goods and services for shops participating in the Tung Ngern app, he said.
AIS customers can redeem 2 AIS Points for a one-baht cash discount under the campaign.
The programme now involves 400,000 stores using the Tung Ngern app and in the future different kinds of businesses, such as convenience stores, hotels and transport operators, would be able to join in.
Pratthana Leelapanang, AIS chief consumer business officer, said local economies are the foundation of growth in the macroeconomy.
Under the project, AIS and KTB are able to deliver their business strengths, support shops and ease the expense burden faced by users, particularly as the state’s co-payment scheme has now ended.
The economic slowdown, driven by both domestic and international issues, has had a direct impact on small business operators and consumer spending power.
The project was soft-launched in September of last year.
AIS has over 20 million customers active in its points programme, with over 2.6 billion customer points unredeemed. The points are displayed within the myAIS app.
These points are ripe for conversion into opportunities for small shops, as an assisting factor to help keep them in business, said Mr Pratthana.
“We believe that as people become familiar with this app on their smartphones, they will receive a sense of convenience and security, and be able to gradually access an increase in exclusive privileges via this cooperation.”
Mr Pratthana said the two firms want to be part of powering the national economy with support for spending at Tung Ngern app-linked shops to give them added extra strength as a foundation for the country’s economy.
“We are confident the cooperation will be a vital force driving local economies to grow sustainably at the capillary level of the financial system in every area of the country.”