Oishi first in Thailand to let customers pay for meals by installments

[webfact]

Oishi first in Thailand to let customers pay for meals by installments
By Coconuts Bangkok


File photo of Shabushi restaurant. Photo: Oishi Group

BANGKOK: -- Oishi Group announced yesterday it will be the first in the restaurant business to allow customers to pay for their meals by instillments to encourage more people to eat out.

Paisarn Aosathaporn, Deputy CEO of Oishi Group, said the company had partnered with Krungsri Bank to let lower-income
customers spending at least THB1,500 on a meal to pay for it in three installments without interest.

He hoped this would boost customers as it is expected that consumers are likely to spend less in the first quarter of 2016.

Full story: http://bangkok.coconuts.co/2016/01/07/oishi-first-thailand-let-customers-pay-meals-instalments


-- Coconuts Bangkok 2016-01-07

[saakura]

Encouraging more debt. There is no free lunch and it will come back to bite.

[jaywalker]

If there was ever evidence of a credit bubble this is it.

I wonder if this fad will ever catch on at Nana Plaza?

[kotsak]

A sign of things that are about to come

[dageurreotype]

Food has become so expensive now they're letting you pay in installments for a bloody meal?

[Gsxrnz]

If there was ever evidence of a credit bubble this is it.

I wonder if this fad will ever catch on at Nana Plaza?

I can't wait until the mobile EFTPOS terminals hit Thailand. Every girl at Nana or Pattaya WS will have one hanging from her shoulder.

[NextStationBangkok]

What a shame! This is the country with abundant food available and offers to everyone for free. Sadly to borrow for your own luxury food. Rather people should try to learn how to cook simple food at home and share with family and live happily without depts.

[ldiablo]

If you have to pay for a meal in installments than under no circumstances should you be eating out. But I have no problem with someone paying installments for the two in the photo.

[leeneeds]

I eat at this restaurant all the time in various locations as the food is fresh, and all you can eat in 1 hour , with drinks and ice cream and fruit salads is a good deal for around 280 baht each person, If you can not afford that amount at that time then go with out, the fishing line and hook comes to mind when i first read the story,

I wonder how many will regret or be able to get off the hook?

[Gutenberg]

More debt creates even more debt.

USD/THB 1:38 this year. Mark it.

[lujanit]

to let lower-income customers spending at least THB1,500 on a meal to pay for it in three instalments without interest

These are the very people who should not be given credit. This is totally irresponsible by Oishi and Krungsri. Just looking after their bottom line and they don't care how they make it bigger. What happens if the person cannot make the necessary payments on time? Big interest is what will happen.

There should be a law against this type of activity, then again it will probably never happen. Big end of town and all that.

[Thian]

Food has become so expensive now they're letting you pay in installments for a bloody meal?

Go have a look at the Oishi buffets where you can eat unlimited for 600 baht. They are always fully booked and many lower class Thai go eat there.

Or look at MK-suki , they always have a qeueu waiting outside, even for lunch and it's expensive and you get crap quality food there.

[JOC]

Never mind the food!!

I would be willing to make a down payment for the hostesses

[daoyai]

If it allows a working class person to host a family or special occasion meal out and pay it off with no interest, then a decent promo, remember you need to spent 1500 on one meal so not likely for someone to run up a regular debt load.

[jaywalker]

If you have to pay for a meal in installments than under no circumstances should you be eating out. But I have no problem with someone paying installments for the two in the photo.

Those two would make for a couple of delectable Thai dishes wouldn't they?

You know, taking them out for eating out....

[jaywalker]

If there was ever evidence of a credit bubble this is it.

I wonder if this fad will ever catch on at Nana Plaza?

I can't wait until the mobile EFTPOS terminals hit Thailand. Every girl at Nana or Pattaya WS will have one hanging from her shoulder.

Gotta love technology!

[lujanit]

I eat at this restaurant all the time in various locations as the food is fresh, and all you can eat in 1 hour , with drinks and ice cream and fruit salads is a good deal for around 280 baht each person, If you can not afford that amount at that time then go with out, the fishing line and hook comes to mind when i first read the story,

I wonder how many will regret or be able to get off the hook?

Which Oishi outlet do you visit? We often go to Shabu Shi (349 baht?) and Japanese Buffet (549 baht). If you have an Oishi Senior's Card you can get 30% of at the Japanese Buffet. I think the Senior's Card is all sold out now. There were only 10,000 available Country wide.

[JOC]

Last year the Oishi Group (they are listed) made a profit of 2.6 billion baht.

Now they want to become even richer on the back of the poor!!

[EyesWideOpen]

Funny stuff, and a sign of the times. So if you do not send in your meal payments,

do they hire the mafia to beat it out of you ?? Thais seem to view debt as something

they will pay when they feel like it.

[ratcatcher]

Paisarn Aosathaporn, Deputy CEO of Oishi Group, said the company had partnered with Krungsri Bank to let lower-income customers spending at least THB1,500 on a meal to pay for it in three installments without interest.

Lower income & B1500 on a meal. Is there something wrong with this picture?

[slapout]

I would be highly suspect of any bank officer or bank who would get involved with this type of proposal just due to some banks reputation of involvement in money laundering, and non compliance with good banking practice. Also note the number of times funds will be accessed from the resturant to bank, billing/collection, from the consumer, then back thru the greedy little sticky fingered system again to the consumer. To top it off, this can take place 3 times on a single purchase.

The people can get (most have) credit cards, especially those who spend 1500 baht on a meal so how will this help what is ''forecast'' as a slow quarter by one of this companies CEO?

[JOC]

Funny stuff, and a sign of the times. So if you do not send in your meal payments,

do they hire the mafia to beat it out of you ?? Thais seem to view debt as something

they will pay when they feel like it.

For most Thais the future is tomorrow !! (after tomorrow doesn't exist)

Ask any Thai if they want 1000 baht now or 2000 baht in three days.

99% will take the 1000 baht now !!

That is why a scam like this will work !!

[trogers]

Food has become so expensive now they're letting you pay in installments for a bloody meal?

I was asking for credit at the noodle stall along my Soi a few nights ago...looks like I would be able to get 6 installments from it...

[Gutenberg]

Last year the Oishi Group (they are listed) made a profit of 2.6 billion baht.

Now they want to become even richer on the back of the poor!!

I love evil companies. Let's see if I can buy some stocks.

[theguyfromanotherforum]

How the heck can they force pay by installments? Do they do a credit check on you?

Why would people pay back?

[trogers]

How the heck can they force pay by installments? Do they do a credit check on you?

Why would people pay back?

Same way one pays for purchased furniture, installments through a credit card...

But I would not want to be there when the card company repossesses items due to non-payment...

[JHolmesJr]

If this desperate ploy is any indication, I can only assume their business is in the shitter….

[augustwest]

I can see many people now paying 1/3 for their meal and never going back! Oishi and Krungsri will write the whole debt off and the 2.5 billion baht in profit will rise. The real loser is the Thai government because it will be taxes on the profit that will be written off.

[stickylies]

lol

[Prbkk]

Controlled by Thai Beverage.