In a groundbreaking effort of providing financial services, KASIKORNBANK (KBank) has debuted the K Point program - a digital loyalty points program on K PLUS under the "Power You Up, Get-Redeem-Transfer Points" concept with the aim of delivering the best perceived value from the use of KBank's financial services. Customers are now capable to use K Point in lieu of cash; they can redeem K Point to purchase items or use them for discounts on products, and for payment of utility bills or services. K Point can also be transferred to other loyalty programs of leading brands to serve every lifestyle. In the near future, customers will be able to earn and collect K Point when using other KBank services. This initiative aims to satisfy the lifestyle needs of more than 18 million customers.
Mr. Patchara Samalapa, KBank President, said that KBank has continually developed digital lifestyle platforms with the aim of making KBank services as part of customers' everyday lives. To this end, the Bank has developed the K Point program, which is a digital loyalty points program on K PLUS which enables customers to earn and collect points by participating in 'Missions' of using products and services as determined by KBank, such as applying for K-Credit Card or participating point hunting missions on K PLUS; differently from loyalty programs of other financial services which merely offer points to credit cardholders. Hence, customers will perceive the best value when using KBank services on a continual basis. Equivalent to cash, K Point can also be used for bill payment, e-Wallet top up or discounts on the purchase of items at various stores, or for shopping via K+ market. Furthermore, customers can transfer K Point to other loyalty programs of numerous major brands.
Another outstanding feature of K Point which provides a novel experience when using KBank's financial services is the fact that KBank's leading business partners within K Point ecosystem have an array of products and services that accommodate every lifestyle, allowing customers to freely use K Point for matching their needs with greater value for money. As a digital loyalty points program on K PLUS, the K Point program allows customers to check, redeem and transfer points instantly via one application. In the near future, customers who use services within KASIKORNBANK FINANCIAL CONGLOMERATE can participate in K Point program as well.
Customers within the K Point program will enjoy privileges under the "Power You Up, Get-Redeem-Transfer K Points" concept. First of all, "Get K Point via numerous channels" which allows customers to easily earn points when spending with participating K-Credit Cards or joining point hunting missions on K PLUS. Following is "Redeem K Point in various ways" which enables customers to use K Point in lieu of cash for many occasions such as payment for utilities, phone bills, e-Wallet top-up, game top-up via K PLUS, redemption for merchandises via K+ market, loan repayment, insurance premium payment and exchange for cashback. Last but foremost, "Transfer K Point for multiple lifestyles" which grants customers to transfer K Point to other loyalty programs of their favorite brands such as The1, AIS Points, PTT Blue Point and TruePoint.
Customers can simply check their K Point information via K PLUS app under the K Point menu to view their current K Point balances with their closest expiry dates, missions, and a list of recommended merchandises available for redemption. From today onwards, customers can participate activities to get, redeem and transfer their K Point.
During the first half of 2021, KBank found that, comparing year-over-year, both the number of transferred and redeemed customers as well as the volume of K Point transferred and redeemed by these customers rose more than 30 percent, while the number of transactions from K Point transfer and redemption increased over 50 percent. Such growth can be attributed to the greater ease of use and diversity of new features and channels for K Point redemption introduced by KBank late last year. KBank's goal is to maintain the current growth rate throughout this year end.
Mr. Patchara said in closing that not only K-Credit Card customers will benefit from unique privileges with the best perceived value under the K Point program, but our wider range of customers will also earn K Point through other services offered by KBank in the near future; with the hope of our customers, now totaling more than 18 million, will enjoy a worthwhile experience from using KBank services and multiple benefits that best correspond to their lifestyles and demands.
For more details on the benefits of K Point, visit https://kbank.co/3yLwXF9