By using RippleNet, Krungsri is not only able to provide a real-time cross-border payment flow for the petrochemical company, but also provide complete transparency into when the payment would be received. Interested in learning more? https://t.co/QmmBvN97rc
— Ripple (@Ripple) December 18, 2017
In a South East Asia first, we’ll collaborate on the formation of a microgrid development in Bangkok which will see between 6–10 multi-storey apartment buildings trading between 1–2MW of embedded solar generation.
www.digitalnwwsasia.com reports on one of the biggest start-up investments made by a Thai financial institution. Krungsri’s Omise funding will help boost its payment business in Thailand.
KRUNGSRI Finnovate, a subsidiary of Krungsri (Bank of Ayudhya) and member of the Mitsubishi UFJ Financial Group (MUFG), announced on Sept 28 the completion of a Series B plus round into Omise, a Thai online payments startup.
With Omise’s expertise in online payment and blockchain technology, Krungsri plans to adopt the technology to support its online payment services for greater customer experience.
Krungsri Finnovate managing director Sam Tanskul said, “This round of funding into Omise marks the second investment of Krungsri Finnovate this year and also it is one of the biggest start-up investments made by a Thai financial institution’s CVC.
“As a subsidiary of a leading financial institution, we have seen growth opportunities in online payment as well as a solid expansion of Omise’s transaction volume.
“We also realised that opportunities abound for Omise to tap the full potential of e-commerce in Southeast Asia and offer the payment solutions across the region.”
“With Omise’s expertise in online payment and blockchain technology (OmiseGO), Krungsri will accelerate the adoption of the online payment technology.
“As part of a long-term plan, OmiseGO, a blockchain-based financial technology focusing on digital, real-time value transfers and payments, could potentially support the development of our digital products and services such as KMA, Di-wallet, and U-Choose,” Sam added.
Online payment technology service provider Omise announced today that it has been chosen by McDonald’s Thailand to be its exclusive payments gateway for its website, www.mcdonalds.co.th and the McDelivery Thailand mobile app.
Thailand’s OmiseGo receive start-up of the year from Thai PM
GroupM in Bangkok are advertising for a Commercial Analyst Manager.
Interesting summary of Thailand’s dynamic digital media landscape in the job advert.
Thailand market overview
In a population of 69 million people, Thailand’s mobile penetration is at a whopping 120% with smart phone penetration at 50%. Digital spend has grown 38% year-on-year since 2013 and most people are now accessing the internet via mobile devices. Bangkok is one of the top Facebook cities in the world and Thailand ranks high in time spend viewing YouTube.
The FTA TV market is also changing rapidly with 24 new commercial digital channels launched in 2014. The audience fragmentation, following years of a virtual FTA TV duopoly, is creating huge trading and content opportunities. Thailand is one of the fastest-growing media markets in the region. Those looking for a rewarding and dynamic career in media have no better place to be than Thailand.
Meanwhile, The Bangkok Post reports that the State Railway of Thailand (SRT) and Thailand Post will apply the Internet of Things (IoT) and blockchain technology to improve their logistics services.
“The SRT will invest 1 billion baht over the next three years to upgrade its information and communications technology,” said Sirima Hiruncharoenvate, the SRT’s chief information officer, after a seminar on Asian IoT business platforms.
The National Broadcasting and Telecommunications Commission’s approval of the 800-900 megahertz spectrum for a wireless railway communications system enables the SRT to continue working on its IoT technology plan, she said, adding the SRT needs a dedicated communications system.
What is KYC?
KYC – “Know Your Customer” – is required by banks to prove the identity of someone wanting to open a bank account. Usually this can be done by showing your ID card during the account opening process at a bank branch.
It’s possible to complete the KYC process on a laptop with a webcam. An e-KYC process makes life easier for businesses and customers if a KYC verification is required.
As reported in the Bangkok Post, e-KYC processes will soon be possible in Thailand:
The move came after the Bank of Thailand introduced a new regulation to facilitate the KYC process electronically for opening a deposit account or buying a fund.
The central bank said it will cooperate with government entities to enable data connection to the civil registration process and interconnections among financial institutions and e-payment service providers.
Respect to OmiseGo: wearing shorts to meet central bankers 😉