Kasikorn Bank (KBank) has launched the first Pay Wave credit cards featuring contact-less technology.
KBank is Thailand's third largest commercial bank and is one of the technology and innovation leaders in developing new banking services.
KBank's Visa Pay Wave or 'K-Wave' system is an innovative way to make purchases using the Visa payments system.
The card features contact-less chip technology embedded into the credit card and offers convenient, fast and secured transactions.
Payments can be made by K-Wave cards at shops throughout Thailand which have the Visa Pay Wave sign.
Transactions are limited to THB1,500 ($NZ60), however, amounts over this limit can still be made via the traditional method.
KBank expects a positive response from Thai consumers and anticipate 20,000 K-Wave cards to be issued by the end of 2008.
Coffee shops, cinemas and bookstores have been encouraged to accept K-Wave cards, and 2,000 new merchants are expected to accept this new technology by the end of the year.
In Thailand, both card and mobile payments using contact-less technology is well accepted by the Thai consumers. |
