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DeeMoney at forefront of money transfer services despite barriers

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DeeMoney at forefront of money transfer services despite barriers

Financial technology companies are shaking up the traditional banking industry by providing faster, cheaper and more innovative services. Fintechs like DeeMoney in Thailand are revolutionizing international money transfer services for example, by using more efficient technologies like internet and smartphone apps and blockchain technology.

These innovations are enabling more customers to easily and conveniently send and receive money across borders, especially those customers lacking access to traditional bank branches.The World Bank said global remittances grew seven percent to $613 billion in 2017 from $573 billion in 2016.

But despite successfully disrupting the market and placing pressure on banks to improve their game, fintechs and other nonbank providers face barriers to expanding their services. The World Bank said last year that regulations targeting nonbanks were restricting the industry, and holding back financial inclusion that could improve lives, especially those in developing countries.

Aswin Phlaphongphanich, Chief Executive Officer of SawasdeeShop that operates DeeMoney,said a more level playing field was needed, with regulators regarding the traditional banking and nonbanking sectors more equally.

In Thailand for example, nonbanks must apply for a new licence for every branch they want to open, while banks can open numerous branches with the same licence. Daily transfer limits are set higher for banks than nonbanks, potentially impacting small and large companies wanting to do business through channels like DeeMoney. Nonbanks are barred from appointing agents, such as retailers, to receive transferred money. And customers using nonbanks must provide formal identification to receive inbound transfers, while customers using banks do not.

“DeeMoney is shaking up this industry. It aims to streamline and speed up traditional transfer processes that are often not practical, too unwieldy and inaccessible for those who need these services most,” Mr Phlaphongphanich said.

“Regulations for all providers should be the same, without favour, so all customers have the opportunity to benefit fully from these new, innovative and growing services on offer,” he said.

DeeMoney last year became the first and only nonbank provider in Thailand awarded special licences by the Bank of Thailand for cross-border money transfer, exchange and e-payment services.

That means DeeMoney can offer customers safe, international transfer services, without a string of high charges (such as transfer and receiving fees and currency conversion charges) that the banking sector has traditionally imposed. Instead DeeMoney charges a flat fee of 150 baht per transaction.

Unlike traditional institutions, DeeMoney also does not require large amounts of documentation or bank account requirements for transfers. DeeMoney requires only one form of valid ID for initial registration. While bank remittances can take days to receive, there are no delays with DeeMoney.

Customers can instantly transfer money and make payments from Thailand via the DeeMoney app available on Android and iOS to 17 countries.

DeeMoney also has four branches in Bangkok, offering transfer and 34 currency exchange services. Money can be sent to 180 counties including the United States, Australia, China, India and ASEAN countries such as Cambodia, Vietnam, Myanmar and the Philippines. By
collaborating with international partners, it has a strong and reliable distribution network globally, with more than 220,000 service points.

Mr.Phlaphongphanich said the industry was undergoing major changes, as DeeMoney and other nonbanks introduced innovations. With regulatory barriers removed, enabling an even more competitive environment, more customers would benefit.

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august, 2019

15jan(jan 15)18:3027aug(aug 27)22:30Every Tuesday Surf “N” Turf BBQ Dinner at Anantara Hua Hin ResortTreat your Tuesday night perfect with our new theme night dinner “Surf and Turf BBQ” featuring premium local seafood, nice selections of meats including tomahawk as well as variety of homemade desserts.

31jan(jan 31)18:3029aug(aug 29)22:30KHAN TOAK Dinner at Anantara Hua Hin Resort Every ThursdayEnjoy a northern Thai (Lanna) dining experience

01jun10:0030sep(sep 30)20:0020% discount on a la carte treatment at Hilton Hua Hin Resort & SpaOur spa promises pure relaxation and rejuvenation with targeted treatments and signature techniques.

01jun11:3031aug(aug 31)14:30‘All-You-Can-Eat’ Dim Sum at White Lotus, Hilton Hua Hin Resort & SpaThe ‘All-You-Can-Eat’ dim sum buffet is priced at THB 580 net per person every Friday to Sunday, including public holidays from 11:30 a.m. to 2:30 p.m.

01jun12:0031oct(oct 31)12:00Water Park Package at Amari Hua HinWith special benefits for the whole family to enjoy, our package is perfect for you to share an unforgettable holiday.

01jun18:0031aug(aug 31)21:00Saturday Beach BBQ Buffet at Laksasubha Hua HinBeach BBQ Buffet @1,100 THB Free! 1 Cocktail or Beer

01jul08:0017nov(nov 17)18:00Cal-Comp & XYZprinting ITF WORLD TENNIS TOUR 2019 at True Arena Hua HinDue to the International Tennis Federation (ITF) together with True Arena Hua Hin, Cal-Comp Electronics (Thailand) Public Company Limited and XYZ Printing (Thailand) Company Limited organize the competition international court of “Cal-Comp & XYZprinting ITF WORLD TENNIS TOUR 2019” at True Arena Hua Hin.

01jul09:0031aug(aug 31)20:00Ultimate Package at Hilton Hua Hin Resort & SpaPamper your body and soul in a private tastefully decorated treatment room, boasting picturesque views of the resort garden or ocean with our selected warm treatments.

01jul10:0031oct(oct 31)12:0020% EARLY BIRD discount at Tea Tree Spa, Holiday Inn Vana Nava Hua HinPamper yourself after a long week with our facial treatment at Tea Tree spa. 20% EARLY BIRD discount

01jul15:0031oct(oct 31)16:00Free Chocolate Hour at Mövenpick Asara Resort & Spa Hua HinEnjoy our daily Chocolate Hour during your stay for free, not just one but as many as you like for a full one hour from 3.00pm – 4.00pm.

05jul(jul 5)11:3030nov(nov 30)14:30‘All-You-Can-Eat’ Dim Sum at White Lotus, Hilton Hua Hin Resort & SpaWith the restaurant situated high above on the 17th floor of Hilton Hua Hin Resort & Spa, guests can enjoy an unforgettable gastronomic experience with scenic ocean views facing the Gulf of Thailand.

26jul(jul 26)18:3028dec(dec 28)18:30Weekend Pizza Lover at G Hua Hin Resort and MallBuy 1 Get 1 Free!!!!

26jul(jul 26)18:3031aug(aug 31)21:00Weekend Dinner Steak Buffet at Nurr Thai Bistro and CafeSteak buffet of the year is back

01aug19:0022:00Rock & Soul Bingo Fundraiser for Jungle Aid at Father TedsJoin us on Thursday the 1st of August for a fantastic one of a kind Charity fundraiser for Jungle Aid Hua Hin. We have a very well known International Dj taking to decks to provide an amazing night out, mixing the best of best of Modern and Old school Music video’s.

03aug15:0016:30Family Fun Pool Day at Centara Grand Beach Resort & Villas Hua HinHead down to the Railway Pool at Centara Grand Hua Hin for a fun-filled day for the whole family!

03aug(aug 3)22:0004(aug 4)01:00Cow Boy Night at The Beer House, Hilton Hua Hin Resort & SpaCome along with your friend and enjoy the “Cow Boy Night” from 10 pm onwards at The Beer House, Hilton Hua Hin Resort & Spa.

04aug12:0015:00Oyster Brunch at Sheraton Hua Hin Resort & SpaAugust the 4th arrives and oysters are among us. France, Australia and many more exotic oysters await, coupled with the best live interactive offerings around this is one not to be missed.

04aug17:3019:30T4 2019. Home match vs Saraburi United at Takiab StadiumOmsin League T4 Season 2019 West

05aug18:0022:00White Beach BBQ at Hua Hin Marriott Resort & Spaoin our stunning seafront barbecue dinner on the soft sands of Hua Hin Beach.

06aug(aug 6)19:0007(aug 7)00:00Pizza night with the Thairish Band at Father TedsJoin us each and every Tuesday evening with friends or Family in Father Ted’s and enjoy 20% off our entire Pizza menu once our live music starts.

07aug19:0022:00Thai Temple Fair at Suan Bua, Centara Grand Beach Resort & Villas Hua HinThai food lovers are in for a real treat as Suan Bua Restaurant reintroduces its ever-popular “Thai Temple Fair” buffet dinner, filled with superb cuisine from Thailand and spectacular performances.

07aug20:3023:55The Bangkok Beatles Live in Ted’sThe Legendary Bangkok Beatles play live in Ted’s every Wednesday night in Father Ted’s from 8:30pm.

09aug(aug 9)10:0012(aug 12)20:00I Love You Mom Package at The Barai Events I Love You Mom Package at The Barai – 9th to 12th August 2019 By Nina Published on August 6, 2019 Share Tweet Comment Spoil your mother this Mother’s day with our spa package

09aug(aug 9)12:0012(aug 12)22:00Mother’s Day at Hilton Hua Hin Resort & SpaIn celebration of Mother’s Day, reward your loving mother at White Lotus Restaurant and Hua Hin Brewing Company with ‘Mother eats for free’.

09aug(aug 9)18:0012(aug 12)22:00Mum’s ‘Dine For Free’ On Mother’s Day at Novotel Hua Hin Cha Am Beach Resort & SpaFor families seeking a special dining experience on Mother’s Day weekend, Novotel Hua Hin Cha Am Beach Resort & Spa is offering ‘Free Dining for Mum’s’ when families of three members or more sit down to celebrate in style at the beautiful beach-front resort.

09aug21:0022:007th Birthday at Wado Karate Federation, Hua HinAfter Assessments and Grading has finished, there will be a belated 7th birthday celebration of the club.

10aug(aug 10)10:3011(aug 11)19:00Take 5 Sports Bar vs Hooters Golf Series at Black Mountain Golf Course & Banyan Golf ClubGreat two days of golf and fun at Black Mountain on Saturday 10th August and Banyan Golf Club on Sunday 11th August

10aug(aug 10)18:0011(aug 11)22:00Mother’s Day BBQ Buffet Dinner | Kampu Restaurant, Mövenpick Asara Resort & Spa Hua HinThis Mother’s Day, treat your mom with a delectable barbeque buffet and enjoy the soothing sounds of the ocean.

10aug19:0021:00Great party with free flow of Beer , BBQ , live Music at The Green Parrot Hua HinJoin us on 10th August for free flow of local beer and European style BBQ (burgers, steaks, kebabs, skewers, shrimps, salmon, more and more including salad buffet for 725 THB per person.

10aug20:0022:00Free Flow Wine with Salami & Cheese at EAST – Rooftop Bar & LoungeQuality friendships start with quality conversation!

11aug17:3020:30T4 2019. Home match vs Chainat Hornbill B at Takiab StadiumHua Hin City FC vs Chainat Hornbill B

11aug18:0022:00Mother’s Day Eve at Hua Hin Marriott Resort & SpaTreat your mother to an unforgettable family dinner on Mother’s Day Eve! Indulge in an array of international and Thai favorites at Amber Kitchen, accompanied by live music and kids’ activities.

11aug18:3022:00Mother’s Day Dinner at InterContinental Hua Hin ResortAzure Restaurant presents a special holiday menu for Mother’s Day.

11aug20:0023:00In the Mix Hua Hin : Fire & Ice at Azure Restaurant & BarJoin us for a full weekend of magical mixology and DJ mix-mastery as we chill by the beach at ICE Azure Restaurant & Bar and light up the sky at FIRE Vana Nava Sky from 8.00 p.m. till late.

12aug06:0023:45Mother’s Day Promotion at Laksasubha Hua HinMother’s Day is around the corner. Make this day an unforgettable dining experience for your beloved mother with our exclusive offer

12aug09:0021:00A Mother’s Day of Pampering at Sheraton Hua Hin Resort & SpaPamper Mum this Mother’s Day to luxurious Pevonia Facial Treatment with a special 30% saving.

12aug(aug 12)18:3013(aug 13)21:30Hua Hin Chef’s Table 2019 ep.3 at Blúport Hua HinA Culinary Experience for Mom by Chef Beer Thitipong Sangrung

14aug(aug 14)08:0016(aug 16)23:59Birthday Sale at Amari Hua HinSave 35% on Room & Breakfast rates. Book on Amari.com to enjoy 50% spa discount and 30% dining discount.

15aug(aug 15)18:0018(aug 18)21:00Market Village PUBG Mobile Huahin Champion 2019 at Hua Hin Market VillageBlast fun The first battle of Hua Hin

17aug09:0018:30Hua Hin Junior Guitar Competition 2019 at Hua Hin Marriott Resort & SpaThis is a good opportunity for teenage to show their talent. Hua Hin Junior Guitar Competition an annually on 17th August 2019 at Hua Hin Marriott Resort & Spa.

17aug18:0022:00BBQ by the Sea at Sheraton Hua Hin Resort & SpaFeast your eyes on our chefs working their magic at the live cooking stations and enjoy some of Thailand’s finest seafood and imported meats.

17aug18:3022:00Splendour Wine Dinner at Centara Grand Beach Resort & Villas Hua HinIn the evening of Saturday, August 17, 2019, Centara Grand Beach Resort & Villas Hua Hin looking forward to having the pleasure of discerning diners and wine loversto unveil the arrival of Splendour – The Crown of Wines for the first to Thailand.

17aug19:0022:00Wine Dinner at Hilton Hua Hin Resort & SpaHilton Hua Hin Resort & Spa invites you to relax and enjoy the breeze of the sea and admire the magical views of the Gulf of Thailand while savoring a 4 course wine dinner exclusively designed by our renowned Executive Sous Chef Ong and Chef de Cuisine Wimonrut.

20aug19:0023:55Pizza night with the Thairish Band at Father TedsJoin us each and every Tuesday evening with friends or Family in Father Ted’s and enjoy 20% off our entire Pizza menu once our live music starts.

21aug17:3020:00T4 2019. Home match vs Look E-San FC at Takiab StadiumOmsin League T4 Season 2019 West

21aug20:3023:30The Bangkok Beatles Live in Father Ted’sThe Legendary Bangkok Beatles, are unquestionably the best loved and most famous tribute Band to come out of Thailand in the last 20 years and we are honored to have them perform in Father Ted’s each and every Wednesday night from 8:30pm.

23aug(aug 23)10:3025(aug 25)21:00Bluport Mini 4WD #4 2019 (Thailand go to Japan)Blue Port Hua Hin Resort Mall challenges Tamiya car lovers for participate in the Bluport Mini 4WD # 4 2019 (Thailand go to Japan).

24aug17:0021:00HHBN Wine Cruise Evening at Siam Sea-CretYou are cordially invited to Hua Hin Business Network’s August Wine Cruise on 24th August with Siam Sea-Cret Cruises

24aug18:3022:00Pirate of The Hua Hinean at Hilton Hua Hin Resort & SpaYou and your family can enjoy the dinner adventure which is hold at our beachfront and crave for fresh Surf & Turf BBQ cooked to your liking.

28aug20:3023:30The Bangkok Beatles Live in Father Ted’sThe Legendary Bangkok Beatles, are unquestionably the best loved and most famous tribute Band to come out of Thailand in the last 20 years and we are honored to have them perform in Father Ted’s each and every Wednesday night from 8:30pm.

30aug01sepHungry? Hua Hin Food Festival promises a 66 foot long pizza!Star of the show at the upcoming Hua Hin Food Festival will be a 66 foot long pizza.

30aug16:0021:00LGHH 3rd Anniversary at Black Mountain Water ParkPrize giving and party will take place at Black Mountain Water Park

31aug01sepHyatt Open 2019 Hua Hin at Banyan Golf Club Hua HinThe 2-day Amateur Golf Event will draw golfers from near and far and the winner will have their name engraved on the Silver Claret Jug Trophy.

31aug19:0021:30Hua Hin Chef’s Table 2019 EP.4 at S.Ken’s bistroA new generation of chefs with creative 5 course that is inspired by raw materials in Hua Hin and Prachuap Khiri Khan together with selected wines from the Monsoon Valley Vineyard in Hua Hin.

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