Under the guidance of the Bank of Thailand, Ant International, a leading global digital payment, digitisation and financial technology provider and National ITMX will partner to enhance and promote payments connectivity via PromptPay, between Thai merchants and Chinese consumers, which will be launched soon. Krungthai Bank will be the settlement bank for this cross-border QR partnership. In the initial phase, Chinese travellers to Thailand can use Alipay, an Alipay+ e-wallet partner, to make QR payment at millions of local merchants by scanning the PromptPay QR.
Introduced by the Bank of Thailand in 2016, and operated by NITMX, PromptPay is the national payment infrastructure of Thailand, that supports payment services across multiple channels, including cross-border payments with regional digital apps.
Mr. Chatchai Dusadenoad, Managing Director of National ITMX, said: “The launch of cross-border payment services between PromptPay and Alipay marks not only a significant enhancement of convenience for travelers from both countries, but also opens new business opportunities for Thai merchants of all sizes – from small entrepreneurs to large enterprises – by connecting Thailand’s payment infrastructure to the global financial network.
This collaboration highlights National ITMX’s critical role as a backbone of Thailand’s digital financial ecosystem, empowering the country’s competitiveness on the international stage through innovation and seamless connectivity.
We firmly believe that the linkage of QR payment systems between Thailand and China will drive the continued growth of tourism, trade, and investment between the two nations, while strengthening Thailand’s economic foundation for the future. National ITMX remains committed to continuously enhancing the country’s financial infrastructure to meet the evolving needs of the digital era and to support users across all sectors.”
“Our partnership with NITMX and Krungthai Bank builds on the Bank of Thailand’s commitment to reducing barriers between global consumers and local merchants, a vision that we also share,” said Edward Yue, Alipay+ General Manager for SEA, ANZ and South Asia, Ant International. “With tourism an important economic and cultural driving force between Thailand and China, our partnership will unlock new opportunities in the next chapter of the journey between both countries, as they celebrate 50 years of friendship. We will continue to enhance global connectivity between travellers and local businesses for more opportunities in cross-border commerce and inclusive growth.”
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