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[June 01, 2012]

Aeon to allow 7-Eleven cash withdrawals for cardholders

Jun 02, 2012 (Bangkok Post - McClatchy-Tribune Information Services via COMTEX) -- Aeon customers will soon be able to obtain cash via Counter Service Ltd at all 6,800 7-Eleven counters nationwide.

The new service, to be introduced next month, will allow Aeon Your Cash revolving loan product cardholders to withdraw 1,000 to 5,000 baht per transaction at any 7-Eleven branch between 8am and 10pm daily.

"It's convenient and secure," said Yasuhiko Kondo, the managing director of Aeon Thana Sinsap (Thailand) (AEONTS).

He said cardholders will be able to withdraw money by using a one-time password (OTP) obtained by calling an Aeon automated call center.

After receiving the OTP on their mobile phones, customers can go to any 7-Eleven store and receive money from the cashier by presenting their ID card, Aeon member card and OTP.

A fee of 20 baht per transaction will be charged.

Aeon expects 20% of Your Cash customers to use this service on a monthly basis.

Currently, Your Cash customers make 2 million withdrawals a month totalling 2 billion baht.

The new Counter Service deal at 7-Elevens nationwide will give customers another way to collect their money other than from ATMs.

Since June 2006, Aeon has provided Your Cash loans to customers wanting to use their credit lines to withdraw money from ATMs.

Aeon is the first non-bank provider in Thailand to introduce Counter Service withdrawal at 7-Eleven branches.

"This is a completely new money channel for the Thai market, and our partnership with Counter Service and 7-Eleven means the service is truly nationwide," said Mr. Kondo.

7-Eleven has about 300 partners using its counter bill-payment service for the processing of about 10 million bills per month.

AEONTS shares closed yesterday on the Stock Exchange of Thailand at 31 baht, up one baht, in light trade worth 392,000 baht.

Like dislike 0 people liked / 0 people disliked this article ___ (c)2012 the Bangkok Post (Bangkok, Thailand) Visit the Bangkok Post (Bangkok, Thailand) at www.bangkokpost.com Distributed by MCT Information Services

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