BANGKOK, THAILAND - Media
OutReach -
July 18th 2018 - International outbound
and inbound money transfer and e-payment service, DeeMoney, operated by
Thai-based international telecom provider, SawasdeeShop, is revolutionizing
money transfers from and into Thailand and currency exchanges within Thailand
with a headline-grabbing announcement that it is the first and only non-bank
entity in Thailand to ever obtain special international money transfer and
money exchange licenses, issued from the Bank of Thailand; launching a
worldwide money transfer service to and from 180 countries and money exchanges
in 34 currencies, all within the same premises.

Photo
from left to right: Aswin Phlaphongphanich, CEO of
SawasdeeShop and Rasmegh Srisethi, Managing Director of SawasdeeShop at
the press conference to officially announce that DeeMoney, the
International outbound and inbound money transfer and e-payment service,
operated by Thai-based international telecom provider,
SawasdeeShop, is the first and only
non-bank
entity in Thailand to ever obtain special international money transfer
and money exchange licenses, issued from the Bank of Thailand. These
include an Authorized Money Transfer
Agent License, E-Payment Service License Type C (3) and Authorized Money
Changer License.
A fully developed FinTech company, DeeMoney operates its own Money
Transfer, Exchange and E-Payment Platform, collaborating with established
partners. Its flagship branch is on Bangkok's Sukhumvit Soi 8 and is a one-stop
service for international money transfers and currency exchanges.
The licenses represent game-changer news, meeting evolving customer
demands and defining the future of how money is transferred by individuals.
This bold new move is a clear sign of confidence in DeeMoney and a dynamic
indication of how money systems that have been in operation for years are
changing in 2018 and beyond. DeeMoney represents an exciting new chapter in
personal finance services; injecting innovation into banking tradition. The
Bank of Thailand issued three types of licenses to SawasdeeShop: an Authorized
Money Transfer Agent License, E-Payment Service License Type C (3) and
Authorized Money Changer License.
This DeeMoney worldwide digital money transfer service reinforces the
fact that Thailand is at the hub of the ASEAN community and at the forefront of
digital development. DeeMoney customers include Thai nationals, migrant workers
in Thailand, tourists and expats living and working in the Kingdom; creating an
easier way to transfer and exchange money that reflects fast-changing needs in
a world where migratory work in Thailand, international travel and greater
connections to other countries are growing rapidly.
Currently, offerings in Thailand are restricted to Bank of Thailand
licensed institutions and bank outlets only.
However, banking channels for international money transfer have several
limitations such as red tape, high fees, high documentation, bank account
requirements and lack of instantaneous transfers. Added to this, unofficial
cross-border channels, particularly with Myanmar an Cambodia, create
uncertainty in terms of exchange rates and delivery. Often migrant workers face
obstacles such as local bank access, lack of local facilities as well as
language barriers.
With a flat fee of THB 150 and registrations via valid personal ID,
with some services via a mobile phone app, DeeMoney is shaking up the market
and aims to streamline, speed-up and smooth out traditional processes that are
often not practical, too unwieldy and inaccessible for those who need these
services the most.
Currently, DeeMoney customers can transfer money from Thailand via
their android mobile phones using a user-friendly app to 17 countries with
funds payable from their DeeMoney app; with an IOS version due to be launched
during Q3 2018. This new worldwide digital money transfer service to 180
countries, which will be served via the app too in the future, is being
achieved in partnership with US-based money transfer company MoneyGram;
Merchantrade, a licensed money transfer and exchange network in Malaysia;
global money transfer company Xpress Money; and Wing Money, a Cambodian
specialized licensed bank.
Meanwhile, DeeMoney has created a strategic partnership with SuperRich
International Exchange (1965), the largest money exchange distribution in
Thailand to offer 34 currency exchanges at the lowest rates for customers
vising DeeMoney outlets.
The DeeMoney operations promises a greater money transfer experience
with a fast, secure, convenient and cost-effective solution, as Aswin Phlaphongphanich,
Chief Executive Officer (CEO) of SawasdeeShop Co., Ltd. highlights.
"DeeMoney is Thailand's first digital
platform, created in Thailand, for international money transfer and
exchange. DeeMoney's key strategy is forging
strong partnerships with leading pay-out licensed partners in each of its key
corridors, such as Cambodia, Myanmar, Vietnam, India, Philippines, China, the
US and Australia, to name just a few."
As well
as revolutionizing traditional banking services, DeeMoney reinvents out-moded money-transfer
tiered fees that are dependent on payment amounts; which can range from THB 300
upwards to THB 5,000 per transaction and in reality financially preclude many
individuals. Instead, DeeMoney is offering an industry-first flat-fee of just
THB 150 per transaction for amounts starting as low as 1,000 Baht up to THB
800,000.
A leading digital financial platform provider for
e-payments, transfers and exchanges, DeeMoney integrates with existing
financial service providers and transforms modern transfer and trade channels,
logistics and e-commerce in the Thai consumer ecosystem. Once the Bank of
Thailand has approved agent services for non-bank license holders, expected by
late 2018, DeeMoney will announce new strategic
partnerships as they develop and drive forward new digital money services.
About DeeMoney
DeeMoney is a first non-bank Thailand license
platform operating international money transfer and exchange with 4 convenient
locations in Bangkok, Samrong and Mahachai. DeeMoney offers international money
transfers to 180 countries and 34 currencies at its outlets and extends its
services to web and mobile applications. DeeMoney mobile app is Thailand's most
cost effective and extensive solution for international money transfer with the
highest coverage of countries.
About SawasdeeShop
Sawasdeeshop Co., Ltd has been established
for more than 17 years and been a leading voice telecom provider under the NTSC
license for internet telephony and calling card services. Sawasdeeshop
operations extends from USA, Singapore, Cambodia and Hong Kong. SawasdeeShop
has over 40 brands of Calling Cards with over 2 million users in Thailand. The
service brands used in the market are known as DeeDial, Bolo, Asean, Wow
Angkor, Happy to name a few and a large corporate customer base of SME and
Corporate customers using its SIP TRUNK (VOIP) and Cloud Communication Platform
service branded as CLOUDEE. Currently, Cloudee is the leading cloud
communication platform offered in Thailand offering instant SIP trunk, DID
numbers, IVR & PBX, Call Center Services over the cloud for SME and corporates
in Thailand. Sawasdeeshop backbone is on technology, telecommunication and
application development. Using its diverse customer base SawasdeeShop enters
the Fintech industry acquiring Authorized Money Transfer
Agent License, E-Payment Service License Type C (3) and Authorized Money
Changer License under the brand
of DeeMoney. DeeMoney is a new entrant to Thailand's new non-bank license
holders offering digital platform services for money transfer and currency
exchange services.