Chief commercial officer Chatchai Chatchaiganan said the electronic purse was designed for the next generation of shoppers.

"There are no restrictions on the card. You don't need a minimum salary; all you need is the money to top it up. It's convenient. Once you use it, you'll be hooked, so the number of cardholders will definitely continue to rise," he said.

Since the card's inception in February, the company has obtained about Bt4.5 billion in spending through its cards, with Bt3 billion spent on bill payments.

Chatchai said that spending was expected to increase from this year's Bt400 million per month to Bt800 million to Bt1 billion per month next year. The firm installed 6,200 machines in shops and expects that to increase to 15,000 next year.

Chatchai said it was too soon to report a profit, because the business was new to Thailand and needed a huge investment.

The company spent about Bt350 million to set up the system and Bt120 million on advertising. It expects the total expenditure for this year to be about Bt500 million.

Customers buy the card for Bt250, and there is no charge for using it, as Smart Card charges the partner stores a minimum of 1 per cent of the purchase total. Customers are awarded points for spending.

The company has teamed up with several partners, including 7-Eleven, True and the University of the Thai Chamber of Commerce, to launch the card.

Yesterday, it joined with Siam Piwat, the management company of Siam Discovery Centre and Siam Centre, to launch a smart-purse counters in the shopping centres' computer-controlled carpark and Food for Fun food court.

Apart from expanding the service through the 4,000 7-Eleven convenience stores in Bangkok, the firm recently persuaded Wat Phrathat Doi Suthep to use the service. Visitors to the temple can use the e-purse card to buy joss sticks and candles or even make merit.

It hopes to expand its service to two automobile companies, PTT petrol stations and taxis, as well as for insurance payments.

Piyarat Setthasiriphaiboon

The Nation