Kasikorn Bank has revealed that consumers are increasingly using K PLUS during the COVID-19 pandemic. In the first quarter of 2020, financial transactions reached as high as 700 million, an 8% growth from the last quarter of 2019. The four features with the highest usage include money transfers, insurance purchases, e-wallet top-ups, and online shopping on K+ Market. The bank aims to have 15 million customers using the app by the end of this year, with total transactions expected to reach 11.6 billion.

Mr. Veerawat Pantawangkorn, Senior Executive Vice President of Kasikorn Bank, stated that the COVID-19 outbreak has led customers to avoid cash, reduce outings, and increasingly conduct financial transactions online through K PLUS. The bank has prepared to continuously support the demand for transactions via K PLUS. In the first quarter of 2020, the number of transactions through K PLUS reached 700 million, an 8% increase from the previous quarter. Furthermore, the growth of K PLUS is also attributed to the government's “We Won't Leave Anyone Behind” initiative, which has resulted in nearly 10,000 new K PLUS registrations daily, with over 80% being first-time online account openings through K PLUS. The bank aims to have a total of 15 million K PLUS users in 2020, representing a 24% growth, with total transactions expected to grow by 37% from the previous year, reaching 11.6 billion.



The most utilized K PLUS features during COVID-19 include:

  • Money transfer features, including transfers to Kasikorn Bank accounts, interbank transfers, and transfers via PromptPay.
  • E-wallet top-up features, such as topping up TrueMoney and GrabPay.
  • Insurance purchase features, including premium payments for Thai Insurance, Thai Life Insurance, Krungthai-AXA Life Insurance, and Allianz Ayudhya Life Insurance.
  • K+ Market, an online marketplace offering quality products and discount coupons.

Customers can choose to pay with cash from accounts linked to K PLUS or use Kasikorn credit card reward points instead of cash. Monthly promotions include discount codes for JD CENTRAL in the shopping campaign and additional discounts at the end of the month (Pay Day). The bank also aims to increase the number of quality products available through K+ Market to over 70,000 items by the end of 2020.


Mr. Veerawat further emphasized the bank's commitment to providing a variety of channels or platforms for customer convenience (Multi-Channels) to facilitate financial services wherever customers need them. For example, the KBank Service offers deposit, withdrawal, payment collection, and identity verification (K CHECK ID) services to support the opening of electronic savings accounts (K-eSavings). The bank plans to expand KBank Service through 19 major partners with nationwide branch networks, aiming for over 100,000 service points across the country by the end of 2020, including 7-ELEVEN, Big C Supercenter, FamilyMart, Thai Post, and many others. Additionally, the number of identity verification points (K CHECK ID), which are crucial for opening K-eSavings accounts, will increase by 4,000 points in April 2020 to facilitate customers in opening new accounts without needing to visit a bank branch and allowing them to register for K PLUS for financial transactions independently.