Open the era of "Shopee" (Shopee) through online business loan services. Join hands with Kasikorn Bank to develop financial solutions for Thai merchants on shop loans up to 600,000 baht without paper documents and without collateral. Pop up the loan button in the Shopee app for sellers, but set the loan process to be done through the K PLUS app. Not revealing sales targets but hoping to grow the online sellers. Initially, Kasikorn expects loan growth through the K PLUS app to exceed 10 billion baht from total loans of 70 billion baht this year. Confident next year, digital loans reach 50 billion baht.Terence Phaeng, President of Shopy Operations, revealed that at present Shopee is an e-commerce application that has been downloaded 30 million times in Thailand. There are 750,000 Thai sellers considered a huge market that is expanding. But this expansion found that the seller has a problem Therefore confident that working with big banks will enable Thai sellers to benefit from the ease of credit services Expecting great changes to the platform
"Believe that many sellers are interested in providing this service And will send the number of merchants on the shop to continually increase After all, the year has expanded continuously. "
The cooperation between Kasikorn Bank and Shopee will result in 3 aspects which are 1. Shop on the shop platform of Shopee. Will have the opportunity to access funding sources from "Online business loans" (MADFUND) of Kasikorn Thai do not need to submit documents. No need for collateral But have to apply through the K PLUS application, which will screen credit recipients based on income data And other trading behaviors together. The maximum approval limit is 600,000 baht. 2. Shop on the shop will have the opportunity to use MADHUB, a project created by Kasikorn so that online merchants can receive full business support. Both receiving advice, reading knowledge, searching for courses, seminars and work And complete privileges, such as promotions on advertising and transportation purchases, in which Kasikorn has an alliance with the Thai Post and Kerry Give discounts to merchants who pay service fees through Kasikorn card
And 3. This partnership makes Kasikorn Bank a major partner (Hero Partner). Shoppers who pay via Kasikorn Credit Card will receive a special promotion than pay with other cards. Will receive a special discount and Shopee Coins from the regular promotions offered during each monthly promotion.
Undisclosed target
Mr. Patchara Samalapa Managing Director Kasikorn Bank Indicate that the amount of loan applications has not been set through this partnership Initially, expect only the online merchants to solve the problems encountered. And can expand the business further At this point, Patchara acknowledges that the cooperation between Kasikorn Thai and Shopee is not an exclusive partnership because both parties want to give opportunities and free options for traders. The selling point that Kasikorn will emphasize is that K PLUS is the application that has the most online merchants in the system of 1.2 million.
"We have a plan to expand cooperation all the time. Other movements at the end of the year shouldn't have been waiting for next year. Anyone who joins us will accept them all. We would like to cooperate with all major platforms. During the Soft Lunch trial of the system with 5,000 merchants, there has been no set target for loan applicants from this project. "
Currently, there are approximately 11 million K PLUS users, of which there is no record of the number of users who are online merchants on the shop. Initially, the management acknowledged that it is difficult to evaluate the market for creditors on merchant groups As some vendors may identify themselves as students, private employees or self-employed. In which everyone can take a personal loan or any part to use
The interest on online loan in this project is guaranteed to be at the lowest level of 9-12% below the standard while the amount of 600,000 baht is considered to meet the standards. Qualifications of borrowers are based on some consideration from the sales period. Which if being a trader who has been selling for a long time May get a chance to borrow more than a new seller Which may increase the chances of borrowing more if there is additional collateral
However, Kasikorn executives believe that online loans should be at the same interest rate as offline loans. Because even when online recovery is accepted through a mobile phone And offline recovery will write the application on paper But in the end, the customer is the same person Digital recovery doesn't mean less risk. It's just a loan that's more convenient. And all will be done on the same system, so it's likely to use the same interest level
Online loans surpass ten billion baht this year
For this year, KBank believes that the amount of lending due to pressing through the K PLUS app on mobile phones will be worth 10 billion baht from the total of 70 billion baht that will be the amount of loans in year 62.
"Digital borrowing is now over half way (over 5 billion baht). Interest income from 9-12% from this group has no effect on Kasikorn's quarterly earnings. Since it is a group of loans with daily interest rates And many borrowers prefer short-term loans Therefore there is no benefit from Kasikorn's overall financial performance, "said Patchara." Next year will be the year that digital lending will begin to have a loss in the operating results. Because the value of digital borrowing tends to increase from 10 billion to 50 billion baht "
Patchara declined to reveal Kasikorn's third-quarter results, stating that there is a tendency for revenue to fall in the credit business as mrr in the third quarter is lower, compared to the second quarter where the numbers are not downgraded. By looking at reducing interest rates not helping the Thai economy better But able to help small traders as hoped by Bank
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