Visa, the world’s leader in digital payments, today announced the launch of Google Wallet for Visa credit cardholders in Thailand. Bangkok Bank and Krungthai Card (KTC) Visa credit cardholders can now make fast and secure purchases using their Android and WearOS devices in-store, online, and in apps, and store their credit cards within Google Wallet.
The launch meets the changing habits of Thai consumers, who are embracing digital payments and are moving away from cash. According to the Visa Consumer Payment Attitudes Study, almost nine in ten (88%) Thais who are currently not using mobile contactless payments are aware of them and a similar number (87%) are interested to start using them.
Pipavin Sodprasert, Country Manager, Visa Thailand, said: “The pandemic has accelerated the use of contactless payments as consumers look for safe, secure and more convenient ways to pay. Mobile devices have become such an integral part of our lives as we use them to stay connected, do business, and keep ourselves entertained. At Visa, our purpose is to uplift everyone, everywhere by being the best way to pay and be paid. Innovation is a part of our DNA and we are proud to deliver best in class payment experiences for Thai consumers. Together with Google, BBL and KTC we’re excited to support the launch of Google Wallet to provide our cardholders with another seamless and secure payment experience, whether they’re shopping online or tapping their device at checkout counters.”
Jackie Wang, Google Thailand, Country Director, said: “According to the e-Conomy SEA 2022 report, digital payments are gaining popularity and are expected to hit $161 billion in gross transaction value (GTV) in Thailand by 2025. With millions of Thai people now using their phones everyday to make payments, Google is excited to bring Google Wallet to Thailand. With Google Wallet, Thai people can tap to pay in stores or checkout seamlessly online. They can also easily access their boarding passes when they jet off for their year-end holidays. Google Wallet helps keep everything protected in one place, no matter where you go.”
Mobile contactless works just like a contactless card, where consumers only need to tap their smartphone at the reader at the point of sale. Thai consumers cite the top five benefits of using mobile contactless payments as a reduced risk of transmitting Covid infection (68%), no need to carry cash (65%), an innovative way to pay (59%), ease of use and set up (58%), and no need to carry payment cards (56%)[2].
Designed to create a fast, safe and secure payment experience, Google Wallet works in tandem to make payments safer, with multiple layers of security that is private by design and puts consumers in control of their data.
Google Wallet uses tokens, a temporary alias for actual account numbers that keeps cardholder account information safe and is created when a card is added to Google Pay or the respective banking app. Consumer data is kept private as the tokenised account number is shared with merchants, instead of the actual account number.
Visa cardholders will be able to conduct transactions on WearOS devices and all Android devices running Android 5.2 or later by downloading the Google Wallet app in the Play Store.
For more information on Google Wallet, visit https://wallet.google. For more information on Visa contactless payments, please visit www.visa.co.th
