KBank invests more than 100 million Baht in credit card promotional campaign countrywide

KASIKORNBANK has invested more than 100 million Baht to introduce the year-round “1,000,000 Surprises, A Million Impressions” promotional campaign for 2013 allowing K-Credit Cardholders to get free surprise gifts from participating merchants without any card spending. The Bank has targeted an increase in cardholders to 3 million cards, and 32-percent growth to 288 billion Baht in card spending.

According to KASIKORNBANK Executive Vice President Mr. Pakorn Partanapat, intense competition in the credit card business last year among both bank and non-bank issuers to maintain their market share has boosted the market significantly in terms of card numbers, spending and outstanding balance.

KBank will focus its strategy mainly on first job-holders as well as niche markets like expatriates or small and medium-sized enterprises (SMEs) by offering complete benefits for all lifestyles, particularly in dining, traveling, shopping and health care. The Bank will forge an alliance with business partners to issue co-branded credit cards in response to specific demands of existing and new customers. Also, card applications will be accepted via diverse channels including department stores and online applications, which are supported by a speedier card approval process.

In 2013, K-Credit Card aims to maintain its top market position by introducing new promotional campaigns including “1,000,000 Surprises, A Million Impressions”, to meet customers’ needs under the “K-Credit Card Towards Service Excellence” concept. Customers who are familiar with benefits from card spending will be surprised with free gifts without any card spending. They can simply present their K-Credit Card to merchants nationwide for a total of 1 million free gifts from more than 1,000 participating merchants, including Oishi, Mister Donut, Zen, AKA, Gelate, Black Canyon, and

Café Amazon. Other participating tourist destinations are Plearnwan, Art in Paradise, Dolphin World, The Scenery Vintage Farm, Moei Coffee, and Ban Hom Thien.

Mr. Pakorn added that K-Credit Card is still ranked first in the market. Total card spending rose 30 percent from 2011, to 219 billion Baht in 2012. In detail, spending on dining, traveling, shopping and health care grew more than 30 percent each, higher than the market average. The Bank expects card spending in 2013 to reach 288 billion Baht, an increase of 32 percent, with the number of cards at 3 million, a rise of 650,000 cards.

In 2012, KBank’s card spending via Electronic Data Capture (EDC) rose 23 percent to 357 billion Baht, recording double-digit growth for the third consecutive year, with a market share of 32 percent, ranked the top player in this market segment. Such spending is targeted to reach 425 billion Baht this year, up 20 percent, by increasing a volume of the K-Merchant on Mobile service used by smaller merchants.

Mr. Pakorn added that customer lifestyles have changed significantly. The Bank has consistently surveyed customer behaviors and strived to adhere to its customer-centricity strategy through introducing promotional campaigns or activities that match their demands and lifestyles. This is reflected especially in the campaigns for dining, traveling, shopping and health care offered by the Bank’s business partners including leading department stores and merchants, local and international airlines, leading hotels and tour companies, major hospitals, beauty parlors, and beauty product providers, offering privileges to cardholders for the entire year.