Thailand-based state-owned telco TOT, through its subsidiary ACT Mobile, is set to launch a new mobile payment service in March 2014 to create a sustainable new revenue stream.
Called Just Pay, the new service is designed to accommodate future shifts in customer behaviour and will allow the company to target public services and to capitalise on the growth of smartphone users and credit card holders, reported Bangkok Post.
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Just Pay app will provide three service categories which include mobile wallet, mobile point of sale and mobile information management and online statistics reports.
ACT Mobile acting CEO, Apirak Preechayasomboon, said that the company will provide a full-function mobile payment solution serving all digital devices including PCs, smartphones, tablets, printers and card readers.
Preechayasomboon said that ACT Mobile is in talks with several commercial banks for joint provision of its mobile payment service.
"We’re confident our mobile payment service will generate core revenue for us in the near future, while TOT’s core revenue will come from network rental service fees."
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By GlobalDataACT Mobile was established nine years ago, initially to provide TOT’s 3G trial service on the 2100-megahertz spectrum with 500 base stations under the Thai Mobile brand. TOT now provides 3G service by itself on 5,320 base stations.
