On 22 March 2018, the President of Mae Fah Luang University Assoc. Prof. Dr. Vanchai Sirichana and the President of Krungthai Bank Mr. Payong Srivanich signed the Memorandum of Understanding for cash management using the KTB Digital Platform under the Mae Fah Luang University's 4.0 project.
Associate Professor Dr. Vanchai stated after signing the agreement that with the vision to become a quality university meeting world-class standards in education, the university has launched the Mae Fah Luang University 4.0 project to become a hub for producing and developing quality human resource as well as providing various fields of knowledge for community and the country. In addition, MFU developed and improved a financial management system in order to increase the efficiency of Thailand’s payment infrastructure system and move towards a cashless society.
The agreement was aimed at encouraging a fast and smooth financial management system for MFU through the modern financial innovation supported by Krungthai Bank including an e-donation service, a University e-Money Card, an EDC machine, PromtPay and QR Code payments. The time-saving system is used to provide easy and convenient e-payments for goods and services acquired by the various university departments and in the shops by students and staff.
Mr. Payong Srivanich expressed that as the state commercial bank, the bank determined to enhance the quality of lives of the people and the competitive performance of the country by supporting all sectors to drive forward to a cashless society. Moreover, the bank has recognised that Mae Fah Luang University has the potential and the readiness to become a cashless society model for Chiangrai Province and Thailand in the future. In this regard, Krungthai Bank made a donation of 300,000 baht to support university.