Krungsri consumer focuses on travel - The Nation

SUCHEERA PINIJPARAKARN
THE NATION September 3, 2012 1:00 am

"We and our partners in the travel industry will jointly promote campaigns to attract both self-planning and group tour travellers. The campaigns will lead to new cardholders and spending," managing director Thakorn Piyapan said last week.

The company is giving more importance to travelling as a key market.

Domestic travel spending through its credit cards year-to-date has grown by 20 per cent, with self-planning as one of the key spurs.

Krungsri Consumers' portfolio consists of 5.8 million credit cards under the Krungsri, HomePro, AIA, Tesco, Tesco premier and Central brands and 2 million cash cards and personal loans under the First Choice and Power Buy brands.

The company projects its credit card base to reach 6 million by year-end with total spending rising 1,520 per cent to Bt180 billion.

Besides travel, the company would promote dining and healthcare as both segments are regarded as drawing high spenders.

"We will use the network of our partner AIA to expand into hospitals. This will also increase spending on AIA credit card because this kind of card has lower transactions than other cards in our portfolio," he said.

Active cards are 65 per cent of the total at Krungsri Consumer, led by the Tesco credit card and Krungsri credit card.

The growth in spending via credit cards this year also came from new merchants such as gold shops and beauty clinics.

New Krungsri credit cards would be issued to replace HSBC credit cards at year-end after |the integration process is completed.

HSBC credit cardholders who will become Krungsri customers will be exclusive banking customers.

After communicating the benefits to HSBC cardholders, the bank can see no more card cancellations, he said.

HSBC credit cards now number 49,000.

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Source: http://www.nationmultimedia.com/business/Krungsri-consumer-focuses-on-travel-30189599.html

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