K-Credit Card point redemption via K PLUS surges 128 percent

          ​​​​KASIKORNBANK (KBank) announced that K-Credit Card spending via online channels during the first six months of this year grew 31 percent. Focus has been on food delivery and online shopping, which enjoyed growth of 300 percent and 122 percent, respectively. Meanwhile, customers have increasingly redeemed their KBank Reward Points for purchases of products and services on the K+ Market platform via K PLUS, prompting K-Credit Card point redemption transactions to soar 128 percent. KBank has launched a value-for-money promotion to encourage customers to redeem their points for purchases of goods and services, with more than 70,000 items available.  

​          Ms. Phonpimol Pathomsak, KBank’s First Senior Vice President, noted that amid steady growth of credit card spending via online channels during the first six months of this year, K-Credit Cardholders increased their online purchases by 31 percent, compared to the same period of last year. Of this, food delivery and online shopping saw respective increases of 300 percent and 122 percent. Moreover, point redemption for purchases of products and services on the K+ Market platform via K PLUS application surged 128 percent. Of note, the shopping category saw the greatest growth, followed by restaurants and beverages. The charity category has also witnessed substantial growth, as evidenced by the number of points redeemed for donations, which rose 97 percent.
          Our customers enjoy using KBank Reward Points to redeem for goods or services because in doing so, they don’t have to spend any money. Presently, there are nearly 70,000 items of goods and services that can be redeemed on K+ Market. These include new trending products and services in the gaming, entertainment, convenience store, tourism and electrical appliance categories from more than 1,000 shopping malls and partner merchants, such as JD Central, Jaymart, Dotlife, iStudio by Copperwired, and other SME merchants. These stores and merchants, with redemption rates lower than other channels by 15-50 percent, are planning to launch nearly 50 special campaigns soon.
​          At the same time, KBank has introduced a special promotion for our customers to maximize the use of their KBank Reward Points even further from today until December 31, 2020. Under this campaign, only 199 points – instead of the minimum 500 points before – can be redeemed for goods or services from a wide range of leading brands, such as KFC, McDonald’s, Bar BQ Plaza, MK, Fuji, Swensen’s, Sizzler, The Pizza Company in the food category; Shopee, Lazada, Central, The Mall, Robinson, Tesco Lotus, Big C and Family Mart in the shopping category; SF and Major in the entertainment category; and other merchants in the service category.
          Ms. Phonpimol said in closing that, in addition to redeeming KBank Reward Points for the purchase of goods or services on the K+ Market platform via K PLUS, KBank has also offered its customers the choice of point transfer to its partner’s loyalty program at special rates from September 15 to October 15, 2020. Customers who convert their KBank Reward Points to The 1 Card points will receive 20 percent bonus points, or they can exchange those points for cash rebate into their account from today to November 30, 2020. For every 1,000 points redeemed, customers will receive an additional 10 percent in cash, or the equivalent of 110 Baht. KBank plans to expand its network of partners, merchants and products on the K+ Market platform to provide a variety of goods and services with promotions that appeal to even more customers. KBank projects that points redeemed for purchases of goods and services will reach 2.5 billion.
For details and conditions of redeeming KBank Reward Points, please click here 

For instructions on using K+ Market, please click here