Sunday, 22 December 2024
Bangkok Bank has issued 600,000 UnionPay-TPN debit cards
SHANGHAI, China - Since this May, UnionPay International and Bangkok Bank have jointly issued 600,000 UnionPay-TPN card, which is Thailand's first local brand debit card. "Bangkok Bank has issued 14 million debit cards in all, and all of these cards are about to be converted to UnionPay standardized TPN cards." Chartsiri Sophonpanich, President of Bangkok Bank, introduced the other day. Mr. Sophonpanich has just been awarded Shanghai Magnolia Silver Award, which is to award foreigners who have made outstanding contribution to the socioeconomic development of Shanghai.
This February, TPN (Thai Payment Network) which was built based on UnionPay technical standard went live. TPN was co-constructed by UnionPay International, Bangkok Bank and other local mainstream banks. Based on the system, Thailand built the debit card brand of its own, TPN, and began issuing UnionPay standardized UnionPay-TPN cards. In addition, Thailand is the first country outside mainland China that has adopted UnionPay standard as its chip card standard. These are all the milestones in realizing the interconnection between the two countries' payment industry.
At present, Bank of Thailand is dedicated to upgrading the country's e-payment industry. According to Mr. Sophonpanich, it is a win-win that Bangkok Bank adopted UnionPay's advanced technology and innovative capability to construct a local switch network. "UnionPay International's rich experience in mobile payment and e-commerce is able to help enhance the efficiency and service level of Thailand payment industry." he said.
Mr. Sophonpanich has much more connection with China. In 2009, the headquarters of Bangkok Bank (China) was established in Shanghai, and it is the only Thailand-invested bank in China. In 2014, Bangkok Bank set a branch in Shanghai Free Trade Zone, and was further involved in the financial construction of Shanghai. Currently, Bangkok Bank has 6 branches in Shanghai, Beijing, Xiamen, Shenzhen, Chongqing and Shanghai Free Trade Zone.
Mr. Sophonpanich said, Bangkok Bank keeps supporting China's companies to invest in Thailand and ASEAN countries on the one hand, and on the other, organizes enterprises from Thailand and ASEAN countries to visit Shanghai to promote their investment in China. With the implementation of the Belt and Road Initiative, Bangkok Bank will keep playing as the link between China and ASEAN countries.
Re-disseminated by The Asian Banker
