Leading retail developer launches QR code payment

BANGKOK, Jan 22 (TNA) – Central Pattana Plc (CPN), a leading shopping centre operator and retail developer joined forces with six banks to go cashless with QR code and mobile payment at more than 4,000 shops of its main outlets on the first quarter of this year. Pakorn Partanapat, CPN’s Senior Executive Vice President of Operation said the digital technology plays increasing role in businesses, so entrepreneurs have to adapt themselves to cater to demand of consumers, particular those at early working ages, keen to make use of the latest technology. For example, in China, about 62 per cent of shoppers make payments through mobile banking. He said as Thailand is moving into the cashless society, CPN ally with six banks, Bangkok Bank, Bank of Ayudhya, Government Savings Bank, Kasikorn Bank, Siam Commercial Bank to introduce QR Code payment at shops in Central World, Central Plaza and Central Festival to facilitate customers. With the e-payment, it is more cost-effective. It will be easier for shop owners in money management and the banks will save cost for cash management. Those banks plan to expand users of mobile banking service to reach 30 million bank accounts while CPN expected in the first quarter of this year, more than 4,000 shops will be fitted with e-payment tool. The first phase will focus on small shops, selling fashion goods, IT and electronics before it expands to medium and large-sized shops in the second phase. It hopes the number of customers, using the e-payment service will increase at least 10 per cent with a 10-20 per cent growth of retail markets. (TNA)