Thai Airways International (THAI) has announced that 2C2P, a Singapore-based, comprehensive payments solutions provider, will now process all online sales transactions made through the THAI website, for both domestic and international ticket sales. Thai Airways’ customers now have more payment options, including credit cards, debit cards, payment counters and bank channels, such as ATM and Internet banking.
2C2P’s payment processing services work with all major card companies, including Visa, MasterCard, American Express, JCB and China UnionPay.
“The prevalence of online booking is particularly high in the travel and tourism sector. We anticipate more than 20% of our total annual sales of more than THB 400 billion (???) will be purchased online in the next one to two years,”
said Mr. Chutintorn Srisitikum, THAI Vice President, Digital Commercial Department.
“Thai Airways plans to expand this processing controller to cover sales in other countries such as Australia, Russia and South Korea for more effective financial handling from various acquirer banks. We are confident of this joint ability to service our expanding geographical reach, given 2C2P’s reputation for providing convenient, secure and stable systems to control online payments and transactions,” added Mr. Srisitikum.
“Online bookings and purchases will continue to increase, riding on Southeast Asia’s e-commerce wave. With our payment solutions, we are well placed to grow with Thai Airways, as they expand their global reach,” said Mr. Piyachart Ratanaprasartporn, CEO of 2C2P (Thailand) Co. Ltd.
“Customer convenience is at the heart of this partnership and we will continue to enhance payment options,” added Mr. Ratanaprasartporn. There are plans to incorporate more payment options for travellers on THAI, with additional channels such as ATMs and payment counter services in the near future.
On the back of a growing internet audience, the rise of both lower cost and premium mobile devices and increasing consumer acceptance of cash alternatives, e-commerce in the region is rapidly growing. In Thailand, for example, the Thai E-Commerce Association has forecast that e-shopping reached THB 156 billion (US$4.75 billion) in 2013, up 30% from the previous year. With low credit card penetration in Southeast Asia, these consumers will only continue to seek alternative payment solutions.
The above information is the general information I’ve received. But I’d like to know the insights behind this partnership so I kept asking some more questions. Now I can share with you the final Q&A. Let’s check it out!
Questions For Thai Airways, answered by Mr. Chutintorn Srisitikum, THAI Vice President, Digital Commercial Department
Currently how can Thai Airways customers pay online?
Customers can pay through credit cards, debit cards, over the counter or through ATM machines
What are the advantages of 2C2P payment solution from the other paymentprocessing services? And what makes 2C2P different?
The advantages of 2C2P’s payment processing services, and what gives us a competitive edge are:
- Eliminates current payment problems which impact customer experience.
- Extend payment channels
- Easy to customize for THAI country websites
Questions For 2C2P, answered by Mr.Piyachart Ratanaprasartporn, CEO of 2C2P Thailand
Can you share some of the most popular categories people are using topay online with 2C2P?
The biggest category would be the airline industry right now, followed by deal websites, book stores, computer & gadgets, fashion and stationery.
What’s the popular average order value?
This varies based on the industry and nature of the purchase. It would roughly be around 5,000 baht for airlines, 3,000 baht for gadgets, 1,500 baht for fashion.
What are the main payment behaviours different from customers in different countries in Southeast Asia?
We do see regional variations, particularly in terms of payment via cash or credit card. Most of the online transactions will be from credit card for developed countries like Singapore whereas most of the online purchases are paid by cash in countries like Thailand, Indonesia, Vietnam and Philippines. Cash can be in the forms of COD (cash on delivery), bank account transfer, or at payment counters.
Besides Thailand which countries are 2C2P focusing on? And 2C2P approach in these markets?
We focus on countries in South East Asia namely Thailand, Singapore, Indonesia, Myanmar, Cambodia, Laos, Malaysia and Philippines, and will expand to cover Vietnam end of this year or next year. We now have official offices in 5 countries e.g. Thailand, Singapore, Indonesia, Myanmar and Cambodia. We also serve Hong Kong in additional to SEA countries.