KTC launches KTC digital credit card as the first in Thailand.

Business
Editorial staff

KTC launches KTC digital credit card as the first in Thailand.

KTC strengthens its leadership in credit card technology by introducing the "KTC digital credit card" for the first time in Thailand, featuring enhanced security for both online and offline transactions.

Delighting online members with Digital First and Dynamic CVV features, the card allows members to opt for a translucent plastic card with no card digits on the front and no magnetic stripe, eliminating concerns about theft of vital information. Members can now self-apply for the card through the KTC Mobile app and online channels. KTC is confident that, by the end of the year, there will be no less than 100,000 KTC digital credit cards.

Pranaya Nithananon, head of credit card marketing at Krungthai Card Plc (KTC), said that in 2024, KTC is prioritizing on security at every stage of credit card usage, ensuring members security during transactions both online and offline. Recognizing the online transactions continuous growth, which currently makes up 55 % of the total transactions in the company’s portfolio. Members’ main concern revolves around security on card usage, particularly on online transactions or when purchasing products and services that credit cards might become out of sight. Addressing this, KTC thus innovated the groundbreaking "KTC digital credit card," featuring three key advancements in security, reconfirming the pioneering initiative in Thailand.

Sudchavee Banjobdee, KTC’s head of digital marketing division, said that the launch of "KTC digital credit card" offers members more choices, catering to those who prioritize secure online spending with its digital first approach. Members who prefer a physical card, can simply request one via the KTC Mobile app. Currently, the number of KTC Mobile app downloads is 2.2 million, or 88% of the overall membership. This underscores the app's status as a regularly utilized channel, reflecting the preferences of digitally savvy members. Notably, the app streamlines the "KTC DIGITAL CREDIT CARD application process," allowing existing members to apply effortlessly with just a press of the apply-now button. Upon approval, online payments become instantly accessible.

Sirikalya Suthanyaphruet, KTC’s head of online acquisition & performance media division, said that at KTC, customer experience is the company’s priority. Regarding the "KTC digital credit card" acquisition strategy, the target is the new generation accustomed to seamless digital transactions.

To cater to this group, KTC has introduced the electronic application channel, allowing interested individuals to apply and submit their personal documents online via their mobile phones independently. This 24/7 accessible channel accommodates users' schedules, particularly those with limited time, such as office workers or the young generation. Applying for the card is streamlined and secure, especially for personal information. Those interested can apply directly through KTC's website or via the KTC LINE Official account (@ktc_card). The electronic application is simple and concise, reducing documentation process. Applicants only need to complete the form and upload the required documents, the applications will be promptly processed and results will be communicated via SMS to the provided contact number. Alternatively, applicants can check their application status through the registered channel at their convenience.

For this launch, members have the option to apply for either the "KTC digital platinum visa credit card" or the "KTC digital platinum mastercard credit card”, starting January 4, 2024. KTC is confident that the advanced technology and superior security features of these credit cards will address various concerns for members, aiming to achieve a total of 100,000 "KTC digital credit card" cards by the end of this year.