Bangkok, August 14, 2014 – KASIKORNBANK, Thailand’s leading
universal banking group, today announced a
collaboration agreement with Alibaba.com (www.alibaba.com), the leading
platform for global wholesale trade, to help Thai SMEs looking for new
customers to introduce their products to the e-commerce marketplace, hence
increasing product exposure and export opportunities. KASIKORNBANK also reached an agreement with Alipay
(www.alipay.com), a related company of Alibaba.com’s parent company Alibaba
Group and China’s largest third-party online payment service provider, to help
Thai products enter the robust Chinese consumer market.
Banthoon
Lamsam, Chairman of the Board of KASIKORNBANK, revealed that KASIKORNBANK is collaborating with Alibaba.com to help more
Thai SMEs reach out to potential buyers from more than 240 countries and
regions through Alibaba.com’s online platform. KASIKORNBANK has been committed to SMEs in Thailand for a
number of years and this partnership with Alibaba.com will allow KASIKORNBANK customers to access a broader global or domestic
market at a limited cost, in industries ranging from agriculture, jewelry,
textiles, wooden furniture, food and beverage, cosmetics and skincare.
According
to the agreement between KASIKORNBANK and Alibaba.com, Thai businesses can
apply for Alibaba.com’s Verified Membership or Gold Supplier membership through KASIKORNBANK, to enjoy various privileges and services on Alibaba.com that will help them gain more business
opportunities. Verified Members
and Gold Suppliers on Alibaba.com must first pass an authentication and
verification process conducted by Alibaba.com or a third party, which allows
them to gain buyers’ trust more easily. Businesses applying
for those memberships through KASIKORNBANK are entitled to participate in Alibaba.com’s online
marketing training for free and enjoy promotion opportunities on the Thailand
Channel on Alibaba.com (th.alibaba.com).
"In today’s fast-changing global economy,
buyers are faced with shorter product cycles so their requirements also often
have to be met instantly. Thai suppliers must adapt to this change in global
sourcing in order to fulfill buyers’ demand promptly and stand firm in the
competitive export market. We are pleased to work with KASIKORNBANK to enable more Thai SMEs to experience the major
advantages of e-commerce – high efficiency and low cost," said Timothy
Leung, Head of Business Development, Alibaba.com.
In addition, KASIKORNBANK announced that it has integrated its K-Payment
Gateway with the payment system of Alipay to build an online cross-border
payment receipt channel for corporate customers of KASIKORNBANK. In response to China’s domestic economic development and increasing
interest in foreign goods, Alipay is committed to driving its international business to help foreign brands
and retailers get easier access to the Chinese market, in addition to its online
and mobile payment services within China. Currently, consumers from more than
200 countries and regions are able to purchase products from Chinese merchants
using Alipay, and an increasing number of overseas merchants are leveraging
Alipay’s cross-border payment solutions to sell their products and services to
Chinese consumers.
With the number of
Chinese tourists visiting Thailand reaching 4.7 million in 2013, accounting for
18% of the total number of visitors during the year, according to official
tourism statistics, Thailand’s specialty products are well-received by Chinese
consumers for their exotic flavor and craftsmanship. With the partnership
between Alipay and KASIKORNBANK, Thai merchants can now access an effective channel
to sell their products and services to Chinese consumers; meanwhile, Alipay’s individual Chinese users can make
use of a payment method they are already familiar with to purchase different
types of products from Thai merchants in the comfort of their own homes.
“KASIKORNBANK has been a pioneer of innovation in the commercial
banking space of Thailand. Its acute sense of the market together with Alipay’s
expertise in online payment will definitely help Thai merchants expand beyond
their home market and offer Chinese consumers direct access to authentic Thai
products. In the days to come, Alipay and KASIKORNBANK will explore ways to deepen our collaboration to
create more businesses opportunities for Thai merchants and deliver a better
user experience to Chinese consumers,” said Liang Minjun, Vice President of
Alipay International.
Banthoon Lamsam
added, “It is the first time a financial institution in Thailand has
established cooperation with Alibaba.com and Alipay. The tie-ups are expected
to create exciting opportunities for SME customers of KASIKORNBANK to enter the global market as well as access to
the burgeoning Chinese consumer market.”