KTC in partnership with Swatch launches SwatchPAY! for the first time in Asia as a new contactless payment option via watches. KTC saw a shifting behavior and a growth in tap-to-pay payments equivalent to 70% of all cardmembers spending at merchants.
Cardmembers are invited to experience the convenience, shop confidently and safely with Tokenization function, and enjoy special privileges upon purchasing SwatchPAY! collection, exclusively for KTC VISA and KTC MASTERCARD credit cardmembers.
Mr. Tosapong Rangkawara, Head of Card Product and Portfolio Management Division, “KTC” or Krungthai Card Public Company Limited, stated, “after the COVID-19 crisis, credit card spending behavior has shifted significantly as cardmembers are more familiar with contactless payment.
As a result there has been a consistent growth in the number of contactless spending cardmembers and transactions. In the first quarter of 2023, the number of cardmembers spent with contactless method accounted for 70% of all cardmembers which is a 5% increase compared to pre-COVID-19 in 2019. This trend tends to continue in the future. Meanwhile, the number of contactless transactions via KTC card has grown 60% year over year.”
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