OR and Bangkok Bank co-develop a comprehensive business solution for online loan and payment services
December 25, 2019
Mr. Phichin Aphiwantanaporn, Senior Executive Vice President, Finance, PTT Oil and Retail Business Public Company Limited (OR) and Bangkok Bank Executive Vice President Pipat Assamongkol announced the “Bualuang iSupply – online loan for OR customers” at PTT Head Office. They have agreed to provide online loans via OR’s Direct Credit system to meet the financial needs of customers in OR’s supply chain. Customers can receive extra liquidity of up to 3 times of their existing credit line with OR with a special interest rate. This will help them to make payments conveniently and quickly, save business costs and enhance business capability.
Mr. Phichin said OR has developed a new solution “Bualuang iSupply – online loan for OR customers” for sellers of its petroleum products in response to the needs of wholesalers, road construction contractors and industrial factories. This service was co-developed by OR and Bangkok Bank and is a tailored and comprehensive financial solution that provides short-term loans for OR’s customers at the time of ordering. This will reduce financial costs, improve liquidity and received good feedback from customers who tested it during the pilot phase.
Mr. Pipat said “Bualuang iSupply – online loan for OR customers” will enhance customers’ business potential and competitiveness as it combines a payment service for gas/LPG with short-term lending. This will help streamline the order and payment process, improve liquidity management and ensure that customers can get immediate access to gas and LPG when they need it. The Bank is also providing special interest rates to OR’s customers.
The new service will integrate the process for ordering OR’s products with online payment and loan services to support customers in OR’s supply chain who will be able to conveniently access online loans, quickly and securely.
“The Bank is committed to continually develop customer centric solutions using the latest technology to support customers to grow in the digital era. The Bank is proud to develop this financial solution together with OR to meet the needs of all parties in the supply chain” Mr. Pipat said.