SawasdeeShop boosts financial services with mobile app launch

Corporate July 19, 2018 01:00

By JIRAPAN BOONNOON
THE NATION

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SAWASDEESHOP has released the DeeMoney mobile application for inbound and outbound international money remittances and e-payment services.



The firm said that by the end of this year it expects to provide 100,000 transaction a month. It also expects to create an e-transaction value of around US$5 billion in the next five years. 

Aswin Phlaphongphanich, chief executive of SawasdeeShop, said the DeeMoney application has been designed for Android smartphones. With the application, users can access international digital money transfer services to cover 180 countries. 

Users who want to access these services must register at branches and show their ID cards or passports. The application will support the iOS system from next month.

"We provide one-stop services for international money transfers and currency exchanges at 21 outlets and four branches in Bangkok,” said Aswin.

“We have created a strategic partnership with SuperRich International Exchange (1965) to offer exchange services in 34 currencies at its outlets. We are providing services with secure, affordable fees for customers’ satisfaction. They can have confidence in accessing our services.”

It also has created a promotion campaign to run until December 31, enabling customers to make international transfers from Bt1,000 to Bt800,000. They will pay a flat service charge fee of Bt150 per transaction.

He said that the value of money transfers of inbound remittances to Thailand is US$6.7 billion. Outbound remittances are valued at US$4.1 billion, with a money exchange volume of US$36.7 billion. 

“We are a non-bank international money transfer license operator in Thailand, with the licence issued by the Bank of Thailand (BoT),” said Aswin.

“DeeMoney is positioned to provide secure and affordable international money remittance and payment solutions to the unbanked population of 5 million foreign workers from Laos, Cambodia and Myanmar working in Thailand, as well as the 300,000 expatriates, 30 million tourists and domestic Thais nationwide.”

The firm in the third quarter of this year will allow customers to transfer money via QR code. It will also provide an e-KYC (know your customer), e-wallet, blockchain-based services, digital assets and cryptocurrencies, digital money exchange and business money transfers to support its customers in the future.