KASIKORNBANK (KBank), under the leadership of its World Business Group (WBG), is broadening its footprint in foreign markets, particularly in the AEC+3 region, which includes China, Laos, Vietnam, and Indonesia. Vietnam stands out as a rapidly developing market, attracting global investments and projected to grow the fastest within ASEAN. To cater to the needs of Vietnamese consumers, KBank has introduced the ‘KBank Cashback Plus’ credit card.
As KBank ventures into new international markets, it emphasizes the need for a knowledgeable team that collaborates effectively and understands local customer preferences.
In Vietnam, the WBG analyzed consumer spending habits and identified a significant shift towards a cashless economy. This transition, along with the spending patterns reflecting stability and income levels, highlights the potential for tailored banking products that resonate with the Vietnamese lifestyle.
Following extensive market research, KBank Vietnam launched deposit-based offerings and the K PLUS Vietnam Mobile Banking app in 2022. This initiative delivers efficient digital solutions for daily transactions, enabling users to conduct money transfers, pay bills, recharge accounts, check balances, and request statements seamlessly through their mobile devices. As a result, the app’s user base has grown steadily, surpassing one million recently.
In 2024, KBank Vietnam furthered its expansion with the introduction of its inaugural credit card product, KBank Cashback Plus. This versatile financial tool is designed to empower Vietnamese consumers, allowing them to access a range of financial opportunities through a single card.
The card features a credit line for various expenditures, cashback rewards across different categories, 0% interest instalment plans for up to three months, instant cash withdrawals at any time, and additional exclusive benefits.
