Editorial staff
Beam, a Thai fintech startup, launches a revolutionary payments acceptance device, Bolt+, for merchants to accept any payment method and anywhere.
The launch reflects Beam’s vision of creating ‘The World’s Simplest Ways to Checkout’, making payments not only fast and convenient but also a strategic enabler for long-term business growth. It also empowers Thai merchants to embrace a cashless future.
Beam Bolt+ revolutionizes the payment landscape with its new powerful payments acceptance device, supporting all major methods of payment from credit and debit cards, QR PromptPay, E-Wallets such as Alipay and WeChat Pay and installment payments from seven leading banks.
Designed to equip all types of businesses, Bolt+ works seamlessly with POS systems and self-checkout points through Beam’s proprietary pairing mechanism, projected to support more than 5,000 businesses in its first year.
Beam is a Thai fintech startup backed by Sequoia Capital, the world’s leading venture capital firm, with over 240 million baht revenue. It has more than 3,000 leading brands including Birkenstock, Coach, Hatari, Panpuri, and Ravipa.
Bolt+ enables merchants to complete transactions within seconds, meeting global security standards. Compact and portable, it is designed to be used wherever a sale is made, with a simple purchase of 4,490 baht, and a fast sign-up and approval process within just 1-3 days. All transactions managed on Beam’s fully regulated platform under the supervision of the Bank of Thailand, compliant with PCI DSS (Payment Card Industry Data Security Standard) and PDPA (Personal Data Protection Act).
This innovation empowers entrepreneurs and merchants to transform any location into a sales opportunity, achieving success in business amid Thailand’s accelerating transition towards a cashless society.
Win Vareekasem, chief executive officer and co-founder of Beam, said: “The rapid pace of the adoption of digital banking apps and wallets globally is particularly prominent and clear to see here in Thailand, coupled with the right solutions for merchants, we believe Thailand can become a primarily cashless society by 2030. Where over 90% of all transactions are digital.”
Thailand already demonstrates remarkable progress, boasting the world’s highest mobile banking penetration at 97% of internet users, according to Visa. This forms a strong foundation for further development. Key factors driving change include simpler payment processes and more efficient payment infrastructure, both of which align with the rapid rise of cashless transactions across the country.
“By becoming a primarily cashless society, we’ll have half the number of cash registers, 80% less ATMs, hundreds of thousands more trees, lower crime rates among many other benefits, saving billions of dollars in ‘economic waste’. In parallel, merchants will be accepting payments in a more frictionless, cost-effective, and secure manner,” Mr Win added.
To further support merchants in their transition to a fully cashless society, Beam has launched the ‘Cashless Club’, an initiative that encourages adoption of cashless payments.
