Thailand’s first-ever multifunctional mobile wallet capable of card payments was just launched, using technology developed by Cellum, the leading Europe-based mobile payments solutions provider.
The wallet, called Mobile Credit Card, was the product of cooperation between Cellum and Telenor’s DTAC – Thailand’s second-largest MNO – and PaysBuy, a DTAC unit which is the country’s leading e-payment and e-wallet provider. Featuring 3D Secure transactions, the service will offer a first taste of mobile payments to millions of users, and is expected to provide a significant boost to the larger Thai m-commerce market.
Already available on both the App Store and Google Play, the app allows for the registering of both MasterCard and Visa cards and offers users a range of useful functions, including settlement of DTAC postpaid phone bills as well as payment of water and electricity bills. It also lets users top up prepaid phone cards and game cards, and make payments to numerous local merchants.
“For every 100 inhabitants there are only 30 internet connections, but almost 150 mobile subscriptions, and moreover, every other user uses a smartphone,” said Cellum CEO János Kóka of the country of 70 million. “Asia is very magical place for business: We are close to concluding contracts with local partners in three other countries as well,” he added.