The “Visa Mobile Wallet and Contactless Study” found that the majority of Thais (82 per cent) believe security is more important than convenience. With accelerated growth in financial technology, the public and private sectors are grappling with ways to increase consumer confidence in electronic payments, particularly when it comes to transactions carried out on mobile devices.
Thais spend an average of around 160 minutes a day on their mobile devices. By the end of this year, it is estimated that around 20 million people will own smartphones in Thailand, a figure expected to rise to 24.8 million by 2019. Although Internet access and mobile-device ownership among Thais are on the rise, uptake of mobile financial services has been gradual, partly because Thai consumers are unaware of advances in cybersecurity and technology.
Suripong Tantiyanon, Visa country manager for Thailand, said that based on the study, the more secure the mobile-payment experience is, the more willing Thai consumers will be to use it.
“We’re confident this cautious yet optimistic attitude, coupled with Visa’s multi-layered approach to security, will drive the uptake of mobile transactions in Thailand,” he said.
The study, independently conducted by YouGov on behalf of Visa, examines Thais’ attitudes towards mobile and contactless payments alongside those of Singapore and Malaysia. It finds that the three biggest fears in mobile-wallet security are hacking of mobile phone (73 per cent), theft of mobile phone (65 per cent) and getting charged for unintended purchases (63 per cent).
“Among the respondents, only 39 per cent said they would consider using third-party mobile wallets. But within this particular group of potential adopters, 74 per cent are already aware of how encrypted tokens eliminate the risk of personal-data theft,” Suripong said.
Visa Token Service (VTS) ensures mobile and contactless payments are secure as well as convenient, the company says. VTS replaces cardholder information such as account numbers and expiration dates with a unique digital identifier (a “token”) that can be used for payment, via a user’s mobile wallet, without exposing the cardholder’s more sensitive account information.
Tokenisation hides consumers’ confidential account information during digital transactions, making digital payments more secure.
According to the study, about 55 per cent of Thais are familiar with VTS, with awareness highest among those who are also familiar with mobile-wallet technology.
Just under half of Thais (46 per cent) believe paying with a mobile device is as safe as with physical cards, a figure likely to increase in the future as people become more familiar with advancements in mobile payment systems, Visa says. Three in five Thais (61 per cent) believe that one day they will no longer need to carry a card or cash and will instead be able to use their mobile wallets for everyday spending.
“Once Thais become familiar with innovative security measures, such as encrypted tokens, they are much more likely to use mobile and contactless payments more regularly,” Suripong said.

The CCI declined from 74.2 points in September to 73.1 last month. A level below 100 reflects weak consumer sentiment.
Lower confidence is bad news for various industries, as consumers believe it is not the suitable time to spend money on certain things, mainly a new house, a new car or travel, and for small and medium-sized enterprises to invest and expand their businesses.
Thanavath Phonvichai, director of the UTCC’s Economic and Business Forecasting Centre, said yesterday that despite the gloomier October result, consumer confidence was expected to recover in the first quarter of next year on a recovering global economy and the Thai government’s investment plans.
Based on 2,243 responses to its survey last month, the UTCC found other indices reflecting drop in consumer confidence.

But His Majesty lives on in the hearts of his people. Thais will forever remember their beloved King Bhumibol as a caring and visionary father figure, who worked tirelessly for the well-being of his subjects and the progress of the Kingdom throughout the 70 years of his reign.
Besides the sufficiency economy that His Majesty was so passionate about, he was also a life-long believer in, among other things, quality education to provide a solid foundation for the development of his people.
He believed that each and every one of us holds the key to making the nation grow and prosper.
His Majesty’s numerous Royal Projects have been pivotal to educating Thais in all sectors of society.
One Royal initiative that never fails to amaze me is the Anandamahidol Scholarship, which was established in 1952 with seed money donated by His Majesty. Its goal was primarily to supply Thailand with much-needed experts in advanced disciplines to help with national development.
Furthermore, scholarship recipients were offered an opportunity to further their studies overseas with no set pre-conditions to require them to work in Thailand.
His Majesty was confident that they would return home to work for love of their country after graduation. Sure enough, these scholars returned with a determination to use their knowledge for the progress of Thailand.
We, the management and employees of AP (Thailand) Public Company Limited, join the Kingdom in celebrating the life of a wise and benevolent ruler and vow to pass on the legacy His Majesty left behind.
Inspired by the Royal initiative, we, at AP, also believe that investing time and money in people through education is crucial to the development of Thailand’s real-estate sector. We have managed to maintain our leadership in the industry by building on our experience to train people our way. These people are not duty-bound to repay us by staying on to work for us.
At our AP Open House programme, a select group of university students receive in-depth training and are then sent on an observation trip to Japan. Impressed by our organisation, these interns have shown an interest to stay on and have applied for a job at AP.
Together we will take up the challenge of developing Thailand’s real-estate sector to the next level.
Take Piyawan “Newton” Weerapaiboon, for example. An intern at AP Open House when she was a fourth-year student at the Irrigation College of Kasetsart University, she is now a site engineer at AP’s MIND Pinklao-Charan project.

Natee Sukonrat, chairman of the broadcasting committee at the National Broadcasting and Telecommunications Commission (NTBC), yesterday told the media and representatives from both free-to-air analog and digital TV operators that the required transition period would run from November 13 to 18.
Natee’s remarks were in response to Monday’s resolution by the broadcasting committee to implement the move.
Despite obtaining permission from the government to recommence entertainment-related activities nationwide from November 14, the broadcasting watchdog suggested that TV programmes must not contain inappropriate content such as humour, violence, sexual explicitness and disrespectful words.
Natee suggested that general TV programmes such as soap operas, foreign series, variety shows, game shows, music competitions, live sports and commercials could be returned to normalcy with full colour. During the 100 days of the national mourning period, only content that is restricted for those aged below 18 years and specific programmes will remain barred.
TV hosts, presenters and news announcers should continue to wear appropriate attire throughout the 100-day mourning period, which will come to an end on January 21.
NBT channel, commonly known as Channel 11, which is run by the government’s Public Relations Department, will act as the official host broadcaster of the King’s funeral religious rites while all free-to-air TV stations must link to live signals from NBT for the ceremonies, Natee added.
Apart from those free-to-air TV stations, this guideline will also be implemented at other broadcasting services such as radio, cable/satellite TV and Internet protocol TV.
Those media outlets had been forced to lower their tone and broadcast documentaries about His Majesty King Bhumibol Adulyadej and his royal duties after his passing was announced on October 13.
According to a source in the advertising-media industry, local agencies and advertisers said they truly understood the situation and were committed to adjusting to meet proper standards during the national mourning period.

E-commerce platform Lazada has acquired RedMart, the Singapore online grocer backed by billionaire Facebook Inc co-founder Eduardo Saverin.
The companies declined to disclose the financial details of the deal, though news site TechCrunch had earlier quoted sources saying the acquisition was priced at US$30 million to $40 million (Bt1 billion to Bt1.4 billion).
RedMart, founded in 2011, was among the first in the region to launch an online grocery store.
In September, Bloomberg reported that the company was seeking a buyer, and had reached out to some potential suitors including supermarket chain NTUC FairPrice.
Lazada is controlled by Chinese online shopping giant Alibaba, which bought a $1-billion stake in April.
“As part of our growth strategy, we are always looking for ways to serve our customers better by adding new product categories and improving our service offering,” said Maximilian Bittner, CEO of Lazada.
– The Straits Times

CTH ‘FILES REHAB PETITION’

CTH, a former leading pay-TV operator, has reportedly filed a rehabilitation petition in the Central Bankruptcy Court after suffering from total debts of Bt21.45 billion.
According to Isranews agency, the court accepted the case, which was lodged by eight members of CTH’s executive committee including CEO Amarit Sukhavanij and Thana Tummanon, and set the hearing for the reorganisation petition inquiry in December.
CTH’s creditors or stakeholders may file an objection to this petition with the court not less than three days before the trial date.
Because of the huge losses, CTH decided to cease its service early this year and left its customers behind.
On Monday, the broadcasting committee of the National Broadcasting and Telecommunications Commission decided to revoke CTH’s broadcasting licence.

4K SATELLITE TV DUE SOON

Next Step, a provider of television documentaries and satellite TV, plans to launch the country’s first ultra-high-definition (4K) satellite TV channel in the middle of next year.
Jirathiti Rochananond, general manager, yesterday told The Nation that the company would upgrade Khong Dee Thailand, a satellite-based free-to-air TV channel, from high-definition to 4K next year.
This HD channel is accessible on a Freeview HD satellite TV receiver, operated by his company.

These are all well-intended pleas. But in truth, spending a few million baht of your company’s resources sounds a bridge too far – unless, of course, you have unlimited funds or don’t care about the bottom line.
For the record, Market Media Research forecasts that the global human-resource-software market will be worth US$9.2 billion (Bt322 billion) by 2022.
So for the rest of us, what should HR do to get us over the line? This is part of a series of three articles that will shed some light and better equip human-resources departments to do exactly that.
The first step is to look at HR systems as consisting of three key components: system of Records, system of competitive Advantage, and system of Engagement – RAE for short. Each component serves a critical function and purpose for HR and the organisation. A system of records is concerned with how different stakeholders in the organisation – HR, managers and employees – manage their data on employee records, benefits claims, absences and payroll. This sounds very mundane and basic. But if you do it right, your new HR system should improve the way you manage employee data tenfold.
Yes, I do mean tenfold, and why not? Look at how technology has changed. In the past 60 years, there has been a 1-trillion-fold increase in performance of supercomputers, smartphones, smart watches, and video-game consoles, according to research by Experts Exchange. In fact, I advise my clients that we should be aiming for 10-times improvement.
A system of competitive advantage, as the name suggests, enables a company to best its competitors in recruiting faster and better talent. Not only that, it enables companies to reduce the training time it takes in order for employees to perform their jobs effectively.
Imagine a company operating in a sector with high employee turnover, like the retail industry, yet it beats its competitors because you have employees who are fully trained. That’s a shot in the arm and surely gives you the edge over your competitors.
The last component, system of engagement, deals with capturing the hearts and minds of your employees by providing them with easy-to-use tools, so they manage their careers, and connect with peers and colleagues who have similar interests with information that is needed to be successful in their jobs.
These tools often have a user interface similar to Facebook or LinkedIn. This means you don’t need to train them how to use it – just show them where and the rest is history.
Looking at your situation this way will help you translate your needs for a new HR system in terms of business value that your leadership can understand. And suddenly, they will be on your side, and the next question will be: “When can you have this ready?”

Suvit Chansrichawla is next-generation HR consultant under the brand Serendipity & Co, a partner of the Curve Group in Thailand.

*SHARP model developed byex-Harvard Professor Tal Ben Shahar and his colleague Angus Ridgway ex-McKinsey Head of Leadership Development.

Pativate Santavanond, first executive vice president and managing director of KTB’s Business Centre, said yesterday that the bank was aware of the market situation and had sent teams out to survey the health of its rice mill customers.
“We suggest to them to release stocks by selling to exporters and traders.
“However, most of them have enough cash to deal with the new rice crop and some customers have technical problems.
“The help from the bank will be made case by case,” he said.
Rice mill operators in KTB’s portfolio have a daily production of 500 tonnes.
The outlook for rice prices was not good, so KTB had to follow the situation closely, Pativate said.
The Cabinet on Tuesday agreed to raise the subsidy for Hom Mali paddy to Bt13,000 per tonne from Bt11,525.
The price of Hom Mali white rice has been low since the beginning of this year and is not likely to recover, while the inventories of rice mills cannot be sold due to weak demand in the global market, particularly in China, said a banker who declined to be named.
As a result, small and medium-sized rice mills don’t have enough cash to buy paddy from farmers, the source said.
Few commercial banks have exposure to the business with KTB being the major player in lending to rice mills. However, the bank cannot extend more loans to operators that have exhausted their credit lines.
Commercial banks view rice milling is a high-risk industry, so small companies are facing a difficult time surviving.
If cashflow turns negative and prices do not return to normal, half of the small rice mills in the country would have to cease operating, which would hurt rice farmers, the banker said.
“The problem right now is the rice mill operators don’t have purchasing power to buy paddy from farmers.
“And the price of paddy compared with the prices of white rice is not supporting the rice mill operators to buy new paddy while existing stocks can’t be released,” the source said.
“What we are concerned about is cassava farmers because the price of cassava is only Bt1.5-Bt1.6 per kilogram, down from Bt2 in the past, due to slower demand from the China market.
“The cassava harvest is beginning. Cassava farmers are facing the same difficult situation as rice farmers,” the source said.

Kematat Paladesh, president |of the Radio and Television Broadcasting Professional Federa-tion, said yesterday that in preparation for this greater flexibility, members of his federation, along with representatives from the Association of Digital TV Broadcasting (Thailand) and the Media Agency Association of Thailand (MAAT), had agreed to revise their guidelines for the industry.
“General TV programmes such as soap operas, foreign TV series, variety and game shows and music competitions, live sport telecasts and TV commercials can be fully returned to normalcy on November 14,” he said.
However, some programmes including restricted content for those aged below 18, and certain specified programmes, will remain barred during the first 100 days of national mourning for the late monarch, His Majesty King Bhumibol Adulyadej.
Despite granting such greater freedom, the government in Tuesday’s announcement continued to ask for cooperation from broadcasters so that some programmes will still be required to lower their tone. Kematat added that TV hosts, presenters and news announcers should continue to wear appropriate attire throughout the 100-day mourning period.
Speaking in his capacity as president of Bangkok Media and Broadcasting – the operator of digital-TV channel PPTV – Kematat said his TV station was preparing to resume its normal schedule, while notifying media agencies and advertisers accordingly.

EPL telecasts to resume in Dec
Live telecasts of English Premier League soccer, which is one of the top-rated programmes at PPTV, will recommence within the first week of next month.
“I believe some advertisers are waiting for permission from the government to publicise their ads, so that they can plan to kick off their advertising and marketing campaigns in appropriate ways to boost sales before the end of the year,” he said.
The newly revised guidelines suggest that TV commercials can from November 14 be broadcast in full colour under the advice of the MAAT and a content-screening committee at each TV station.
Although advertising expenditure has been suspended since the passing of His Majesty the King was confirmed, local media agencies and advertisers said that they truly understood the situation and were committed to adjusting their advertising plans based on appropriateness during the national mourning period.
“Planning this year has by a considerable way been the most challenging for the industry, following the continuing decline of advertising spending, more fragmented media in TV business, and unexpected events,” said Manee Eabe, managing director of IPG Mediabrands’ Magna Global, one of the country’s leading advertising-media agencies.
Manee acknowledged that her company had had to adjust its planning and trading via television channels almost on a daily basis, because some TV broadcasters had frequently changed their schedules for special coverage during the current 30-day mourning period.
After this initial period, Magna Global hopes that some advertisers will resume their ad spending in the remaining months of the year, she added.