Bangkok – A member of the Thai private sector has integrated a biometric authentication system into its transactions, as part of the Thailand 4.0 approach.
The move was made by Krungthai Card Public Company Limited (KTC) which has revamped its mobile application and implemented a login system that supports iris scanners and fingerprint readers.
The new banking application “TapKTC” makes Thailand the first nation in Southeast Asia and the third country in the world to adopt such technology.
KTC’s Vice President of the Credit Card Business Division, Tosapong Rangkawara explained that the revamp of the company’s banking mobile application supports the use of credit cards in an environment where technology is moving at a fast pace. The CEO said that the new application makes it easy to withdraw cash or check the balance, remaining credit, and accumulated credit card spending points.
In addition, he said that the company is awaiting approval from the Bank of Thailand before it can implement a method that processes payments by using scanners that read the QR Code on a credit card. The service is expected to come online at the end of this year.