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Hana Financial launches GLN service in Thailand
KEB Hana Bank Deputy President and Chief Future Innovation Officer Han Jun-seong, second from left, and Auraratana Jutimitta, second from right, vice president of Siam Commercial Bank (SCB) in charge of retail business, hold a memorandum of understanding at the SCB headquarters in Bangkok, Thailand, Aug. 30. Courtesy of KEB Hana Bank
By Lee Kyung-min
By Lee Kyung-min
Hana Financial Group has launched a mobile payment service app in Thailand, becoming the first Korean firm to provide easy and fast payment via a mobile phone, the company said Monday.
The payment service launched in cooperation with Siam Commercial Bank (SCB), one of the largest commercial banks there, operates on Hana's Global Loyalty Network (GLN).
GLN is a digital platform set up using blockchain-based technology that enables customers to make digital transactions regardless of their location via the decentralized system.
The integrated platform network allows financial services firms, retailers and card point management firms to use shared digital platforms to exchange digitally convertible commodities including points and mileage.
Customers will be able to use the largest public transport system, Bangkok Mass Transit System (BTS), and make payments at about 3 million Prompt Pay partner firms including major department stores as well as traditional markets.
“Using the GLN service, Korean customers visiting Thailand will be able to make payments, use cash withdrawal services at ATMs and receive various coupons in a more convenient way, the same benefits available in Korea. We will continue to explore ways to help improve customer service,” a Hana official said.
Hana plans to launch the GLN service in Vietnam and Singapore within 2019, a move to strengthen the current network with 58 companies in 14 countries.