Central JD Money, a subsidiary of leading e-finance and fintech service developer Central JD Fintech Holding, has announced a major fintech collaboration with Bangkok Bank and KASIKORNBANK to revolutionize personal finance in Thailand,
Elevating the lifestyles of Thai people to the next level and driving the country towards a full-scale cashless society with the introduction of e-wallet application Dolfin Wallet.
The app will serve as a digital wallet that offers unparalleled convenience for Thai shoppers on every occasion through world-class innovation developed by JD Digital, the leader in digital technologies in China, as well as expertise of Central Group, the largest retailer in Thailand.
Mr. Rungruang Sukkirdkijpiboon, Chief Executive Officer of Central JD Fintech Holding, revealed: “Dolfin Wallet is an e-wallet service conceived under our mission to uplift standards in everyday living for all with accessible financial innovations that satisfy different demands on an individual level through the integration of AI (Artificial Intelligence) and Big Data Analytics – both of which are part of Central JD Money’s technological expertise.
These innovations will enable us to develop and present promotional offers that fit perfectly into our users’ lifestyles, offering maximum value as well as a bevy of privileges on The1 Loyalty Platform.
With our collaboration with Bangkok Bank and KASIKORNBANK, plus support from Central Group, Dolfin Wallet will become the ‘super e-wallet” that gives users superior convenience and security – with full support for purchases and transactions at Central Group department stores and accommodations across the country as well as many other retail partners in our network.”
Dolfin Wallet is the first e-wallet application to support payment and money transfers through all channels – including connection to bank accounts, debit cards and credit cards, cash top-up at all CenPay counters nationwide, and full-scale PromptPay support.
Through a user authentication system connected to Bangkok Bank and KASIKORNBANK’s respective applications, Dolfin Wallet supports payment for products and services at all PromptPay locations nationwide regardless of partner bank.
Furthermore, users can gain The1 points for every transaction carried out via Dolfin Wallet and redeem them for exclusive privileges available throughout the year.
In addition to these features and services, Dolfin Wallet is also the first e-wallet application to introduce the E-KYC (electronic know-your-customer) system for user identity verification, allowing for a much friendlier user experience in the sign-up process.
Advanced technologies – including Face Recognition and Optical Character Recognition (OCR) – integrated into the process enable a new user to confirm their identity with a selfie and a photo of their identification card with no need for hard copies of any document beyond the app.
In the near future, Central JD Money plans to launch a face payment service to achieve maximum convenience and security in payment authentication, while e-consumer finance services are also in development for future launches by Central JD Fintech Holding.
Mr. Charamporn Jotikasthira, Member of the Board of Executive Directors of Bangkok Bank, said: “Central JD Money’s expertise in digital technologies and retail dovetails well with Bangkok Bank’s intention to fulfil the objectives of the National ePayment Plan – an initiative that we have always been supporting.
We are pleased to be a banking partner in this important collaboration to elevate Thailand towards a full-scale cashless society in an era where fintech technology will play an important role in daily life.
Under this cooperation, Bangkok Bank will facilitate many types of transactions through Dolfin Wallet – including wallet top-up, user verification and – most crucially – the integration of PromptPay to enhance convenience for the financial lifestyles of Thai people.
Bangkok Bank has brought its experience and expertise in technology to connect PromptPay to Dolfin Wallet, giving the app more extensive usage opportunities as users can simply scan QR codes to make payments at 3 million supported retail locations in Bangkok and beyond.
We hope that this partnership will enable the Dolfin Wallet app to become part of the cashless lifestyle and become a digital financial partner for Thais in the future.”
Mr. Wirawat Panthawangkun, Senior Executive Vice President of KASIKORNBANK, added: “KASIKORNBANK sees e-wallet development as an important part of Thailand’s progress towards a cashless society.
We also recognize the potential of Central JD Money as the leading e-wallet service provider and a global expert of digital technology.
This partnership is a great opportunity for all of us to share our knowledge and expertise – bringing together Central JD Money’s capabilities in technology and retail and KASIKORNBANK’s digital banking expertise to create a new solution for consumers.
That deliver better digital banking and e-payment experiences. In addition to facilitating financial transactions for Dolfin Wallet users, KASIKORNBANK is committed to expanding the network of supported retailers and e-payment locations to create a strong and well-rounded payment ecosystem for Dolfin Wallet – an undertaking that takes full advantage of our strength as the leader in credit card transaction facilitation across retailers.
Today, KASIKORNBANK supports more than 300,000 merchants with EDC machines as well as 1.7 million K PLUS Shop partner retailers.
Our partnership with Dolfin Wallet promises to benefit retailers with more ways to receive payment, while customers will enjoy a greater variety of payment options as well as exclusive privileges.”
“Dolfin Wallet is based on a secure and reliable platform that fully complies with the standards and regulations from the Bank of Thailand.
The technology behind the platform has more than proven its capabilities with more than 400 million users in China and over USD 200 billion in annual transactions processed,” said Mr. Rungruang.
“Central JD Fintech aims to offer new experiences driven by advanced technologies, seamlessly combining the strengths of JD Digital and Central Group to offer new benefits that are accessible, in line with consumer lifestyles, and highly secure as we move confidently forward into the digital, cashless era.”
The Dolfin Wallet application is currently in the final stages of pre-launch preparations with availability expected soon after regulatory approval from the Bank of Thailand. Central JD Money also plans to launch the Face Recognition feature for payments within this year.