Ant Group supports local partners on inclusive financial services

Ant Group continue to support its local partners in Thailand to develop inclusive financial services i.e cross-border payment solution, virtual bank etc. for local consumers and business communities. However, the company is mainly focusing on cross-border payment solution in the Thai market, said general manager for global merchant partnership of Thailand Ant Group, Sittipong Kittiprapapong.

Ant Group partners with South Korea-based Kakao Pay Corp offering payment service in the Thai market. Kakao Pay and KakaoBank are two seperate business identities.

Meanwhile, KakaoBank, the largest digital bank in South Korea, collaborates with SCB X, which is the Thai financial technology conglomerate and holding company of Siam Commercial Bank, set up a consortium to apply for the virtual bank license from the Bank of Thailand.

SCB X plans to hold the majority of shares,…