First Choice
First Choice (Krungsri First Choice) is a Thai consumer finance subsidiary of Krungsri Group that issues credit cards, cash cards, and digital personal loans to more than 2 million cardholders via the UCHOOSE app, nationwide branches, and 20,000+ merchant partners.
- Company typePrivate
- Founded2005
- HeadquartersPathum Wan, Thailand
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What First Choice does
First Choice (กรุงศรีเฟิร์สช้อยส์) is a Thai consumer finance company operated by Ayudhya Capital Services Co., Ltd. (บริษัท อยุธยา แคปปิตอล เซอร์วิสเซส จำกัด) under the Krungsri Consumer division of Krungsri Group (Bank of Ayudhya). Established as the First Choice brand in 2005 and operating for over 20 years, the company serves a cardholder base of more than 2 million members across Thailand, distributing credit cards, cash cards, and personal loans through a nationwide multi-channel network that includes physical branches, a 24/7 call center, the UCHOOSE mobile application, co-branded cards with major retailers (Central Group, HomePro/Top Values Group), and over 20,000 merchant partners. Core products include the Krungsri First Choice Visa Platinum credit card, the Krungsri First Choice Cash Card, the XU Digital Credit Card targeting online shoppers, the First Choice PayPlus digital personal loan (no income documentation required), and the Blue Plus upgrade tier for high-spending cardholders.
The technology backbone is centered on the UCHOOSE mobile app, which enables fully self-serve card applications, digital card issuance, cash advances (U CASH) transferred via PromptPay, QR-code installment payments (PayPlus), and 0% installment conversions on demand. Identity verification leverages NDID digital identity for paperless online applications and Krungsri i-CONFIRM for in-person verification at Krungsri ATMs (1,068 machines), 7-Eleven, Lotus's Money, and HomePro service points. Voice Biometrics (AI MANOW) authenticates callers at the call center with anti-forgery detection. The company earns revenue primarily through interest on revolving credit balances (16% p.a. on credit cards), cash advances and digital loan interest (up to 25-33% p.a.), merchant commissions and interchange from 20,000+ partner merchants, and card fees including annual fees and replacement charges. Co-branded partnerships with Central Group and HomePro embed installment credit at point-of-sale within Thailand's largest retail ecosystems.
First Choice firmographics
Firmographics- Name
- First Choice
- Legal name
- บริษัท อยุธยา แคปปิตอล เซอร์วิสเซส จำกัด
- Website
- https://firstchoice.co.th
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- First Choice (Krungsri First Choice) is a Thai consumer finance subsidiary of Krungsri Group that issues credit cards, cash cards, and digital personal loans to more than 2 million cardholders via the UCHOOSE app, nationwide branches, and 20,000+ merchant partners.
- Ownership category
- akta.pro rank
First Choice industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Credit Card Issuing (522210), Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Virtual / Digital-First Credit Cards (FSAKABAK)
- akta.pro secondary industries
- Private Label / Store Credit Cards (FSAKABAC), Open-Loop Prepaid Cards (Network-Branded) (FSAMANAA)
Keywords
Where First Choice is headquartered
LocationHeadquarters
- HQ city
- Pathum Wan
- HQ country
- Thailand
- HQ region
- Asia
Offices2 records
Markets served
First Choice business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Credit Card Interest Income: Interest charged on revolving balances, cash advances, and installment plans. Standard interest rates of 16% p.a. for credit cards, with effective rates of 7.01-16.00% for installment plans. Primary revenue stream from credit card portfolio.
- Installment and Cash Loan Interest: Interest income from personal loans, cash advance loans, and PayPlus digital loans. Personal loan rates up to 25% p.a.; cash advance effective rates up to 33% p.a. for nano-finance. Includes both minimum payment and monthly installment options.
- Merchant Commission and Interchange Fees: Revenue from merchant partners (20,000+) who accept First Choice cards for installment payments. Transaction-based fees from card swipes and installment processing at partner retail locations.
- Card Fees and Annual Charges: Annual fees, first-year fee waivers, and replacement card fees (200 baht). XU card annual fee of 500 baht waived with 24,000 baht annual spend. Late payment penalties and over-limit fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Krungsri First Choice Visa Platinum and XU Digital: No first-year or annual fee. 0% installment conversion available. |
| Subscription | Annual | First Choice Cash Card: No first-year or annual fee. Cash advance and revolving credit facility. |
| Subscription | Annual | First Choice Blue Plus: Upgrade tier for qualifying Visa Platinum/XU holders. No additional fee for membership. |
| Transaction based/ take rate | Monthly | 0% Installment on Demand: Flat 0% rate for 3 or 6 month tenures on qualifying transactions. |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
First Choice product offering
Product offeringCore offering
First Choice is a Thai consumer finance company that issues credit cards, cash cards, and personal loans to individual consumers. Its portfolio includes the Krungsri First Choice Visa Platinum credit card, the First Choice cash card, the XU digital credit card, the First Choice PayPlus digital personal loan, and co-branded cards with Central Group and HomePro. Customers access applications, cash advances, QR installment payments, and 0% installment conversions through the UCHOOSE mobile app, branches, call center, and a 20,000+ merchant partner network.
Product overview
First Choice (กรุงศรีเฟิร์สช้อยส์) is a consumer finance company operated by บริษัท อยุธยา แคปปิตอล เซอร์วิสเซส จำกัด (Ayudhya Capital Services) under the Krungsri Group. The product portfolio consists of credit cards and cash cards (บัตรกดเงินสด), including the core Krungsri First Choice Visa Platinum and Krungsri First Choice Card products, digital-first offerings like XU Digital Credit Card and First Choice PayPlus (digital personal loan), and co-branded cards with retail partners (Central The1 First Choice, HomePro First Choice). The Blue Plus tier provides upgraded benefits for eligible cardholders. All card products are managed through the UCHOOSE mobile application platform, which enables card activation, balance management, installment requests, and cash services. The company leverages AI-powered voice biometric authentication for call center verification and NDID integration for digital identity verification.
Differentiator
Problem solved
Functional benefit
Brands
- XU บัตรเครดิต ดิจิทัล (XU Digital Credit Card): Digital credit card designed for online shoppers with exclusive deals and cashback rewards
- บลูพลัส (Blue Plus)
- เพย์พลัส (PayPlus)
- UCHOOSE
- กรุงศรีเฟิร์สช้อยส์ วีซ่า แพลทินัม (Krungsri First Choice Visa Platinum)
- บัตรกรุงศรีเฟิร์สช้อยส์ (Krungsri First Choice Card)
- เซ็นทรัล เดอะวัน เฟิร์สช้อยส์ (Central The One First Choice)
- โฮมโปร เฟิร์สช้อยส์ (HomePro First Choice)
- กรุงศรีเฟิร์สช้อยส์ บิซ (Krungsri First Choice Biz)
Products and services
- Krungsri First Choice Visa Platinum Credit Card Premium Visa Platinum credit card offering 0% installment plans, cashback rewards, and discounts across multiple spending categories including dining, shopping, and travel. No first-year or annual fee, with 0% installment conversion available on demand.
- Krungsri First Choice Cash Card Cash card providing a revolving credit limit for purchases and cash withdrawals, accepted at all Visa-enabled merchants with 24-hour cash access via ATM and online installment options. No first-year or annual fee.
- XU Digital Credit Card Digital-first credit card optimized for online shopping with exclusive deals, up to 6 months 0% installment on online purchases, cashback rewards, and digital card delivery via the UCHOOSE app. Annual fee of 500 baht waived with 24,000 baht annual spend. Purchase protection insurance up to 20,000 baht per year via MSIG.
- First Choice PayPlus Digital Personal Loan Digital personal loan enabling cash withdrawal via U CASH and QR code installment payments at partner merchants without requiring a physical card. No income documentation required for application. Interest rates up to 25% p.a.
- First Choice Blue Plus Upgraded card tier for existing Visa Platinum or XU cardholders offering enhanced cashback, better point rewards, and exclusive monthly deals. Free membership requiring cumulative annual spending of 400,000 baht through principal and supplementary cards with good payment history.
- Central The1 First Choice Co-Branded Card Co-branded credit card with Central Group offering 0% installment at all Central Group stores and earning up to 3x The1 loyalty points on spending at Central Group merchants.
- HomePro First Choice Co-Branded Card Co-branded card with HomePro offering 0% installment for up to 12 months on purchases of 10,000+ baht at HomePro and Mega Home stores, with extended 0% up to 24 months and reduced interest rates up to 36 months on select items.
- Krungsri First Choice Biz Business-focused cash card providing credit limit for business purchases and cash withdrawals, designed for business owners.
- UCHOOSE Mobile Application Self-service mobile application for card application, digital card issuance and activation, cash advances (U CASH), QR installment payments (PayPlus), 0% installment conversions, balance management, payment, and customer service access across all First Choice card products.
- Voice Authentication Service (AI MANOW) Voice biometric authentication service for call center customer identity verification. AI MANOW guides users through registration and authentication, replacing manual identity verification steps with voice-based verification.
Quantifiable outcome
- Cardholder base exceeding 2 million members
- +1 more outcomes
Companies that use First Choice
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
First Choice technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature6 records
First Choice partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Central Group (Central Retail Corporation)coreCo-branded 'Central The1 First Choice' credit card distributed through Central department stores and retail locations. Cardholders earn The1 loyalty points (up to 3x) on spending at Central Group merchants. Card offers 0% installment at Central stores and partner retailers.
- HomePro (Top Values Group)coreCo-branded 'HomePro First Choice' credit card distributed through HomePro and Mega Home stores. Card offers 0% installment up to 12 months on purchases of 10,000+ baht at HomePro and Mega Home, with extended 0% up to 24 months and reduced interest rates up to 36 months on select items.
- Top Values Group (โทเทิล แวลู)coreTop Values Group umbrella covering major retail chains including Power Buy, Thai Watsad, and BNB Home. Partner network for 'Central The1 First Choice' co-branded card acceptance and installment financing at leading electronics and home improvement retailers.
- Shopee ThailandcoreIntegration for online installment payments via First Choice credit and cash cards on Shopee platform. Supports 0% installment conversions on eligible transactions. Includes promotional campaigns with Shopee discount codes for XU cardholders.
- Lazada ThailandcoreIntegration for online card linking and installment payments on Lazada platform. Cash card holders can add their card for installment payments at checkout. Joint promotional campaigns with Lazada discount codes.
- Visa (Visa Worldwide Pte. Ltd.)coreVisa-branded credit and cash cards issued by First Choice. All cards carry the Visa logo enabling global acceptance at merchants with Visa payment terminals. Cash cards utilize Visa's payment network for cash withdrawals at ATMs.
- Bank of Thailand (BOT)coreRegulatory oversight of consumer lending operations. Reference to BOT financial consumer protection standards and guidelines. Customers directed to BOT's Financial Consumer Protection center for dispute resolution.
- NDID (National Digital ID Co., Ltd.)coreNDID digital identity verification service enabling paperless, branchless card and loan applications via UCHOOSE app. Customers with existing bank accounts at NDID-participating banks can verify identity digitally without visiting a branch.
- Krungsri Bank (Bank of Ayudhya)coreParent bank within Krungsri Group. Provides ATM network access for cash withdrawals, account debit services for loan repayments, and shared customer base. Krungsri i-CONFIRM identity verification service available at Krungsri Bank branches and ATMs (1,068 machines).
- Krungsri i-CONFIRM (Krungsri Bank)coreIn-person identity verification service at Krungsri Bank branches, ATMs, and authorized service points (7-Eleven, Lotus's Money, HomePro). Allows new customers to verify their identity using a national ID card at a physical service point after starting an online application.
- 7-Eleven (CP All)minorCounter service points for Krungsri i-CONFIRM identity verification. Customers can complete identity verification at 7-Eleven convenience store counters nationwide as part of the digital application process.
- MSIG (Mitsui Sumitomo Insurance)minorPurchase protection insurance provider for XU digital card. Covers online shopping protection up to 20,000 baht/year for items purchased with the XU card, including non-delivery, wrong items, and damage during shipping.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
First Choice competitors and assessment
Company assessmentBroad incumbents
- Krungsri (Bank of Ayudhya) Consumer: Parent entity and broader retail banking arm within the Krungsri Group; issues its own credit cards and personal loans alongside First Choice, sharing infrastructure and customer base.
- Kasikornbank (KBank) Credit Cards: Major Thai universal bank with a large credit card portfolio and consumer lending franchise, competing head-on with First Choice across consumer segments including co-branded retail cards.
- SCB (Siam Commercial Bank) Credit Cards: One of Thailand's largest commercial banks, offering a broad suite of credit cards and personal loans as part of its full-service retail banking franchise — directly competes with First Choice for premium card customers.
Emerging players
- AEON Specialized Bank (Thailand): Specialized Thai bank providing personal loans and digital lending to mass-market consumers; overlaps with First Choice's PayPlus and cash advance segments.
- TrueMoney (by True Corporation): Leading Thai e-wallet with growing nano-lending and BNPL capabilities, increasingly competing with First Choice for digital-first, underbanked Thai consumers.
- LINE Pay Thailand: Major Thai e-wallet integrated with LINE messaging, offering micro-lending and payment products that compete with First Choice's digital cash advance and BNPL use cases.
- Atome (by Advance Intelligence): Regional BNPL provider active in Thailand, offering 0% installments at online and offline merchants — a direct substitute for First Choice's 0% installment conversion feature.
Direct peers
- Home Credit Thailand: International consumer finance player operating in Thailand with strong installment/BNPL focus on mass-market consumers, often at the point of sale — overlapping with First Choice's PayPlus QR installment product.
- Krungthai Card (KTC): Thailand's leading listed credit card and personal loan issuer, operating under Krungthai Bank. Direct competitor to First Choice in credit cards, cash cards, and installment lending to Thai consumers.
- AEON Credit Service (Thailand): Major Thai consumer finance company offering credit cards, personal loans, and hire-purchase financing. Directly comparable product mix and customer segment to First Choice.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Choice social profiles
Digital presenceFirst Choice financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Choice leadership team
Management profileNumber of profiles
Profiles1 record
First Choice funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Choice M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Choice
What does First Choice do?
First Choice is a Thai consumer finance company that issues credit cards, cash cards, and personal loans to individual consumers. Its portfolio includes the Krungsri First Choice Visa Platinum credit card, the First Choice cash card, the XU digital credit card, the First Choice PayPlus digital personal loan, and co-branded cards with Central Group and HomePro. Customers access applications, cash advances, QR installment payments, and 0% installment conversions through the UCHOOSE mobile app, branches, call center, and a 20,000+ merchant partner network.
Is First Choice a public or private company?
First Choice is a private company. It is classified as corporate owned and is currently operating.
When was First Choice founded?
First Choice was founded in 2005. It employs 1,001 to 5,000 people.
Where is First Choice based?
First Choice is headquartered in Pathum Wan, Thailand, in the Asia region.
How does First Choice make money?
Four revenue lines are on record. Credit Card Interest Income is the primary driver. The others are installment and Cash Loan Interest, merchant Commission and Interchange Fees and card Fees and Annual Charges.
Who are First Choice's main competitors?
Broad incumbents on record are Krungsri (Bank of Ayudhya) Consumer, Kasikornbank (KBank) Credit Cards and SCB (Siam Commercial Bank) Credit Cards. Emerging players are AEON Specialized Bank (Thailand), TrueMoney (by True Corporation), LINE Pay Thailand and Atome (by Advance Intelligence). Direct peers are Home Credit Thailand, Krungthai Card (KTC) and AEON Credit Service (Thailand).
Does First Choice have an API?
No public API is recorded for First Choice.
What industry is First Choice in?
First Choice's product category is Consumer Lending. Its primary akta.pro industry code is FSAKABAK, Virtual / Digital-First Credit Cards, with a secondary code of FSAKABAC, Private Label / Store Credit Cards. Its NAICS code is 522210 and its SIC code is 6141.