Pay Solutions and GHL collaborate

Editorial Staff

Pay Solutions and GHL collaborate to drive Thailand's digital economy with 0% installment payment option through 6 Bank Cards via All-in-one Smart EDC Device

Pay Solutions Co., Ltd. - Thailand's first online payment system provider, collaborates with GHL (Thailand) Co (GHL Thailand), the leading payment solutions provider to introduce a 0% installment payment option for credit card holders from six major Thai banks, powered by GHL Thailand’s All-in-One EDC machine.

Mr. Pawoot Pongvitayapanu, chief executive officer of Pay Solutions Co., a service provider of online payment systems said that the post-COVID-19 period has shaped consumer-spending behavior, characterized by delayed purchase decisions and a preference for paying in installments, evidently at an 84% increase. However, store owners seeking to implement the credit card installment payment system are required to go through the process of dealing with one bank at a time, leading to substantial costs associated with procuring a large number of card point-of-sales (POS) terminals.

Since the start of 2023, consumer behavior in Thailand has shifted back to traditional in-store shopping, with a significant increase in the number of tourists visiting the country after its reopening. Furthermore, the preference for credit card usage over cash is evident in electronic card payment data from EDC machines. In 2022, the volume ratio indicated 73.6% for offline transactions and 26.4% for online. There were 53,323,000 card transactions at point-of-sale, amounting to 139 billion baht. In the corresponding period of 2023, the trend continued, with offline transactions accounting for 79.6% and online for 20.4%. The number of card transactions at point-of-sale increased to 56,118,000, with a total value of 151 billion baht.

Pay Solutions is an online payment system service provider, covering across multiple channels (omnichannel) including websites, applications, and social media. Together with GHL Thailand, they have introduced an innovative installment payment option via GHL's All-In-One EDC machine, capable of seamlessly handling transactions from six major banks and nine credit cards, namely Kasikorn Bank (KBank), Bangkok Bank (BBL), TMB Thanachart Bank (TTB), Krung Thai Bank (KTB), Card X (SCB), Bank of Ayudhya (BAY), Tesco Money, Krungsri Central The1, and Krungsri First Choice cards.

Mr. Prinya Jinantuya, chief executive officer of GHL Thailand, said, “GHL, a leading payment solution provider in the ASEAN region, has been operating in Thailand for over 15 years, providing comprehensive solutions through an All-in-One EDC machine. Our All-In-One EDC machine accepts a wide range of payment methods, which includes debit/credit cards, QR PromptPay and e-wallets both locally and globally. With over 15,000 payment touchpoints spanning across retail stores, food & beverage outlets, hotel chains and multiple establishments nationwide, our collaboration with Pay Solutions is tailored to cater to the growing demand of business operators looking to facilitate more installment payment options.