The Bangkok Bank works with Thai Payment Network and Mastercard on a new contactless debit card entitled the 'Be First Smart TPN.' The new card functions with a security system in place that sends out a text notification at no charge when a transaction is over Bt300. The bank's Vice President Shoke na Ranong announces that the new Be First Smart TPN Mastercard debit card eliminates the need to swipe, and can be processed with a simple wave over an electronic data capture device.
The new card is suitable for the government's policy of being a "cashless society" as it enables a more seamless transaction process. Additionally, Bangkok Bank announces special promotions for Be First Smart TPN cardholders -- this includes discounts for movie tickets, GuavaPass, and Grab.
Contactless Debit Cards
Bangkok Bank Joins TPN and Mastercard on the Be First Smart TPN Debit
Trend Themes
1. Contactless Debit Cards - The trend of contactless debit cards is disrupting the payment industry by enabling more seamless transactions and promoting cashless societies.
2. Text Notifications for Debit Transactions - The trend of sending text notifications for debit transactions over a certain threshold is disrupting the banking industry by providing added security for customers.
3. Promotions for Debit Cardholders - The trend of offering promotions for debit cardholders is disrupting the marketing industry by providing targeted incentives for customers to use contactless payment methods.
Industry Implications
1. Payment Services - The payment services industry can take advantage of the trend towards contactless debit cards by developing and promoting new payment technologies that are more convenient and secure.
2. Banking - The banking industry can use the trend towards text notifications for debit transactions to differentiate their services and provide added value for customers concerned with security.
3. Marketing - The marketing industry can capitalize on the trend towards promotions for debit cardholders by creating targeted campaigns that incentivize customers to use contactless payment methods and build brand loyalty.