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Lazada 12.12 Promotion

Lazada 12.12 Promotion

          "The partnership reflects our win-win strategy, where SCB Abacus business partners become more competitive and we build digital lifestyles ecosystem together. We want to stand by our customers every day, especially on bad days when they have urgent financial needs or when they want to expand their businesses," Sutapa concluded.

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  SCB Abacus joins hands with Lazada to propel e-commerce and support merchant liquidity for Lazada's successful 12.12 promotion campaign                     SCB Abacus Co., Ltd, a digital lending provider via the Money Thunder application, providing quick loan application results and loan availability within 24 hours. Following the success of the SCB Mae Manee Sri Online loan campaign for merchants to start businesses with Lazada, SCB Abacus has continued the partnership to boost merchants' liquidity and stocks for Lazada's recent 12.12 promotion campaign.                  SCB Abacus Chief Executive Officer Sutapa Amornvivat said, "Despite harsh economic impacts from the COVID-19 pandemic, we have seen outstanding growth in online transactions, particularly from Lazada sales figures during their previous 11.11 promotion campaign. In the first two hours there were orders worth around one billion baht. As for the 12.12 promotion campaign, on December 12 there were over 25,000 orders per minute within the first hour of the campaign, breaking the record for the same period last year. Lazada is a key platform helping stimulate the domestic economy, and there are growing numbers of small players joining the e-commerce platform."             SCB Abacus has supported online merchants with adequate liquidity to handle consumer demands with "Build Up" loans featuring quick loan application results available within 15 minutes and quick loan availability within 24 hours. "Build Up" loans are conveniently available 24/7 on the Money Thunder application. These are unsecured loans with a maximum credit line of 50,000 baht, interest at 2.75% per month, a repayment period of up to 12 months, and no additional fees. SCB Abacus hopes these loans will help new merchants build opportunities, and help existing players expand their businesses so they can cope with the current crisis and navigate through New Normal trade practices.             In partnership with Lazada, there have been over 2 million downloads of the Money Thunder application. The app offers a new loan application experience suiting the needs of Lazada merchants, letting them directly access the Money Thunder application and website through banners on Lazada. During the recent 12.12 promotion campaign, some 100,000 Lazada merchants passed the preliminary requirements for "Build Up" loan approval.  


                 "The partnership reflects our win-win strategy, where SCB Abacus business partners become more competitive and we build digital lifestyles ecosystem together. We want to stand by our customers every day, especially on bad days when they have urgent financial needs or when they want to expand their businesses," Sutapa concluded.             Lazada Thailand Chief Executive Officer Jack Zhang said that the partnership with SCB Abacus emphasizes Lazada's goal of supporting the potential of small merchants with advanced innovations to drive Thailand's digital economy. This partnership helps Lazada merchants increase sales and incomes with easy access to capital and liquidity to help them effectively handle stock management to keep up with the enormous number of orders on Lazada, particularly during mega promotion campaigns like the Lazada 12.12 and Grand Sale promotion campaigns during the festive seasons.       About SCB Abacus Co., Ltd.   SCB Abacus Co., Ltd. is an SCB subsidiary founded in 2017 to develop financial innovations based on artificial intelligence (AI) and alternative data.  SCB Abacus is the first AI-based digital lending provider in Thailand, with business partners across such industries as e-commerce, online marketplaces, telecommunications, and the automotive sector. Aiming at convenient, quick, and fair financial inclusion, SCB Abacus offers its Money Thunder application featuring loans for those who want to start a business. It is a 100% digital lending facility regulated by the Bank of Thailand. With the Money Thunder application, customers do not need to visit a bank counter to apply for a loan. The app currently offers the quickest loan approval and availability in Thailand.        About Lazada Group Founded in 2012, Lazada Group is the leading eCommerce platform in Southeast Asia. We are accelerating progress in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam through commerce and technology. With the largest logistics and payments networks in the region, Lazada is a part of our consumers' daily lives in the region and we aim to serve 300 million shoppers by 2030. Since 2016, Lazada has been the Southeast Asia flagship platform of Alibaba Group powered by its world-class technology infrastructure.

Bibliography

12.12 promotion campaign. (8925). Retrieved on November 22, 2021, from https://www.scb.co.th/en/about-us/news/dec-2020/abacus-lazada.html.

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