2C2P to process all global online transactions as Thailand’s national carrier aims to increase online ticket sales
Photo: Mr. Chutintorn Srisitikum (centre), THAI Vice President, Digital Commercial Department, Mr. Piyachart Ratanaprasartporn (second from the left), CEO of 2C2P (Thailand) and Mr. Varin Achariyakulporn (second from the right), Business Development Director of 2C2P (Thailand) are flanked by representatives of THAI and 2C2P.Singapore, April 10th, 2014 – Thai Airways International (THAI) has announced that 2C2P, a Singapore-based, comprehensive payments solutions provider, will now process all online sales transactions made through the THAI website, for both domestic and international ticket sales. Thai Airways’ customers now have more payment options, including credit cards, debit cards, payment counters and bank channels, such as ATM and Internet banking.
2C2P’s payment processing services work with all major card companies, including Visa, MasterCard, American Express, JCB and China UnionPay. The company’spayment solutions run on Payment Card Industry Data Security Standard (PCI DSS) Level 1, the most efficient and secure payment platform.
“The prevalence of online booking is particularly high in the travel and tourism sector. We anticipate more than 20% of our total annual sales of more than THB 400 billion will be purchased online in the next one to two years,” said Mr. Chutintorn Srisitikum, THAI Vice President, Digital Commercial Department.
“Thai Airways plans to expand this processing controller to cover sales in other countries such as Australia, Russia and South Korea for more effective financial handling from various acquirer banks. We are confident of this joint ability to service our expanding geographical reach, given 2C2P’s reputation for providing convenient, secure and stable systems to control online payments and transactions,” added Mr. Srisitikum.
“Online bookings and purchases will continue to increase, riding on Southeast Asia’s e-commerce wave. With our payment solutions, we are well placed to grow with Thai Airways, as they expand their global reach,” said Mr. Piyachart Ratanaprasartporn, CEO of 2C2P (Thailand) Co. Ltd.
“Customer convenience is at the heart of this partnership and we will continue to enhance payment options,” added Mr. Ratanaprasartporn. There are plans to incorporate more payment options for travellers on THAI, with additional channels such as ATMs and payment counter services in the near future.
On the back of a growing internet audience, the rise of both lower cost and premium mobile devices and increasing consumer acceptance of cash alternatives, e-commerce in the region is rapidly growing. In Thailand, for example, the Thai E-Commerce Association has forecast that e-shopping reached THB 156 billion (US$4.75 billion) in 2013, up 30% from the previous year. With low credit card penetration in Southeast Asia, these consumers will only continue to seek alternative payment solutions.