“SCG”, by Cement-Building Materials Business and “KTC” or Krungthai Card Public Company Limited, increase opportunities to access the capital for local contractors in the Digital Age through the “KTC-SCG VISA Purchasing” credit card, the first and only card in Thailand that specifically caters to local contractors under the “One card for all things about contractors” concept. The credit card will help add capabilities to local contractors who will be able to purchase construction materials products through SCG authorized dealers that participated in the project nationwide with up to Bt. 1 million maximum approval limit per person, with a maximum interest-free period for up to 45 days, and other special privileges for every transactions made using the credit card, including reward points, the option to pay in installments, etc.
Mr. Wiroat Rattanachaisit, Head of Distribution and Retail Business, SCG Cement–Building Materials Company Limited, reveals, “Local contractors’ business practices requires consistent working capital for purchases of construction materials and equipment. The main issues among local contractors are limitations in access to legal capital, and issues with receiving loans from financial institutions and construction material merchants. These factors could lead to ongoing problems such as contractors not owning capital to complete their jobs or having very high operating costs from informal loans usage.”
Understanding the problems of local contractors led to the collaboration between “SCG”, the leader in cement and construction products and “KTC”, the leader in credit card and personal loans services, in presenting “KTC-SCG VISA Purchasing” credit card for local contractors who wish to continuously increase liquidity through over 130 SCG authorized dealers nationwide that participated in the project. Cardholders will be able to purchase products with a maximum limit of Bt. 1 million per person.
Mrs. Charoonsri Srisukson, Executive Vice President – Merchant Acquiring, “KTC” or Krungthai Card Public Company Limited, adds, “Currently, local contractors have demonstrated interest in registering for the “KTC-SCG VISA Purchasing” credit card, and there are over 1,000 patrons that have been approved. We have approved a personal loans limit of Bt. 150 million with over Bt. 100 million in transactions in the first half of the year. Moreover, the majority of these approved cardholders have never had the opportunity to access full-service credit card services before. This project, therefore, helps increase opportunities and business liquidity to enhance local contractors’ potential of landing more jobs. It also strengthens financial credibility among local contractors as credit for other loans in the future which will positively contribute to the overall construction industry.”
“In addition, local contractors may purchase products through their phones and make payments using the KTC QR pay option on the “KTC” Mobile app without the need to do so physically in-stores. Likewise, merchants can be reassured that every transactions have been paid for by checking the “KTC Tap Merchant” application.”
Interested local contractors may find more information at any SCG authorized dealers who are participants of the project, LINE @creditchang or KTC PHONE Tel. 02 123 5000.