TrueMoney

TrueMoney is a financial technology brand, providing e-payment services in Southeast Asia. In Thailand, the platform includes TrueMoney Wallet, WeCard by MasterCard, TrueMoney Cash Card, Kiosk, Express, Payment Gateway and Remittance.[1]

History

TrueMoney was founded in 2003 as part of True Corporation but now reorganized under Ascend Group in 2014, a spin-off of True Corporation and a subsidiary of Charoen Pokphand Group.[2]

Services

In Thailand, TrueMoney Wallet is a flagship service, and is an electronic wallet that allows users to scan and pay bills, top up, and purchases. The company makes use of its extensive 7’Eleven network in the country. The service produced other spin-offs like WeCard, in partnership with MasterCard, and TrueMoney Cash Card, for specialized top-up services like gaming. It also includes Payment Gateway for servicing online merchants.

TrueMoney features a remittance service, and has initiated cross-border remittance from Myanmar and Cambodia, to Thailand.[3]

Products

  • Payment gateway
  • Stored value card
  • Electronic bill payment
  • Cash on Delivery
  • Controlled payment number

Regional expansion

TrueMoney has offices in Thailand, Vietnam, Cambodia, Myanmar, Indonesia and the Philippines. TrueMoney has licenses to operate e-money in almost every Southeast Asian country.[4] As the flagship venture, Thailand’s TrueMoney counts Google[5] and Alipay[6] as partner payment platforms.

References

  1. ^“True Money Company Limited: Private Company Information – Businessweek”. www.bloomberg.com. Retrieved 21 April 2016.
  2. ^Thailand, Nation Multimedia Group Public Company Limited, Nationmultimedia.com,. “E-wallet key service as True Money eyes 15% growth – The Nation”. The Nation. Retrieved 21 April 2016.
  3. ^“TrueMoney ประกาศผลักดันไทยใช้ Cashless Society ด้วยศักยภาพการเป็น FinTech ระดับแนวหน้าของประเทศไทย“. Siamphone (in Thai). Retrieved 21 April 2016.
  4. ^“True Money makes regional moves | Bangkok Post: business”. Bangkokpost.com. 16 April 2015. Retrieved 25 June 2015.
  5. ^“Wallet by truemoney – Android Apps on Google Play”. Play.google.com. Retrieved 25 June 2015.
  6. ^“Wallet by TrueMoney เปิดตัวบริการใหม่บัตรเงินสด Alipay”. Manager Online. Retrieved 21 April 2016.

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