KUALA LUMPUR (July 24): GHL Systems Bhd via its 100% subsidiary GHL (Thailand) Co Ltd together with Thanachart Bank Public Company Limited have jointly launched smart payment terminals in Thailand.
According to a joint statement today, GHL group chief executive officer Danny Leong and Wisanarin Wangpiti, Thanachart Bank’s vice president of merchant acquiring - business development, said the partnership between the two companies offers multiple payment acceptance options in a single device — “Smart All in One”.
The payment acceptance options include credit and debit cards, contactless payment that supports cards with the payWave sign, mobile phones and smart watches with Near-field communication (NFC) functions, QR Visa and QR Prompt Pay, the statement said, adding that this smart device will also accept various e-Wallets such as AliPay, True Money, Rabbit Line Pay, among many others.
“This is a move toward a cashless society and to provide an option to merchants and customers to use cashless payment which is more convenient, faster and safer,” it said.
“We are looking forward to work more closely with Thanachart Bank in deploying the new smart terminal as we see big opportunities to bring cashless payments to a wider range of businesses,” said GHL’s Leong.
Leong noted that offering multiple payment acceptance options in a single device will enable seamless daily clearing and ease of reconciliation for merchants.
As at March 2019, GHL Thailand’s networks of e-payment touchpoints comprise 57,100 acceptance points throughout the country and it hopes to add more through the smart device partnership with Thanachart Bank.
Noting that Thanachart Bank currently provides acceptance for both PromptPay and credit/debit cards which follows the Thai QR Code Specification and EMVCo standards for Payment Systems, Wisanarin said these services are expected to help reduce dependence on cash as more businesses are set to accept the new electronic payment methods.
“Thanachart Bank, as a sponsor bank for GHL, will enable GHL direct access to the related systems which will reduce transaction times and easier on-boarding of merchants. Thanachart Bank will also facilitate the clearing and settlement between card schemes/switching platform and GHL,” he said.
GHL’s shares rose three sen or 2.1% to close at RM1.46 today, valuing the company at RM1.09 billion.