Payments News

On The Web

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Global

PayPal Thailand to Cut Off Most Users, All Foreigners Next Month

“The majority of PayPal users in Thailand will no longer be able to use the service next month unless they jump through a series of byzantine and bureaucratic steps that are only available to citizens. A year after it first warned of the change and several subsequent delays, PayPal notified customers this morning that they will not be […]
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Global

Thailand’s Central Bank to Pilot CBDC at End of 2022

“The Bank of Thailand will be conducting a pilot program for a retail central bank digital currency (CBDC) at the end of 2022, Fintech Singapore reported. The central bank will be cooperating with the private sector to further retail CBDC development and to test the system through real-life applications. However, the trials will be limited to about 10,000 retail users. The […]
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Global

Central Banks in Five SE Asian Countries to Create Common Contactless QR Payments Zone

“The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand are to develop an interoperable cross-border payments system that will enable residents of each country to use their mobile banking app to make QR code-based payments for goods and services when visiting any of the other territories. The integrated system will enable visitors to […]
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Global

Thai Digital Payments Surge From Pre-coronavirus Level

“Digital payments in Thailand have quadrupled from pre-pandemic levels, the central bank said on Monday, as the Southeast Asian country’s longest-running wave of infections accelerates demand for online services. Thailand’s latest outbreak started in April, accounting for more than 98% of its COVID-19 cases and deaths, prompting tougher restrictions in July and August that reduced […]
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Domains

Thailand, Malaysia C.banks Launch Cross-border QR Payment Linkage

“The central banks of Thailand and Malaysia launched on Friday a cross-border QR (Quick Response) payment linkage to enable consumers and merchants in both countries to make and receive instant cross-border QR code payments. The move is the first phase in linking the real-time retail payment systems of Malaysia’s RPP/DuitNow and Thailand’s PromptPay, they said […]
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Global

PayNow and Thailand’s PromptPay to link up next year in trailblazing move

“FROM mid-2021, users of Singapore’s PayNow and Thailand’s equivalent PromptPay will be able to send money instantly and securely across the two countries with their mobile phone numbers at “competitive rates”, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). This linkage between two countries’ national faster payment systems will be the […]

On The Wires

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Global

Rapyd to Enable PromptPay Payments for Thailand’s Google Play Users

“Today, Rapyd rolled out PromptPay on the Google Play Store, enabling Thailand’s national payment method to support app downloads and in-app purchases for games, music, movies, video streaming, books, magazines, and other content purchases from Google Play Store. Rapyd, a global Fintech as a Service platform supports local payments for Google in Thailand through its collaboration with GB Prime […]
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Companies

ACI Worldwide Powers Real-Time Payments Growth for Thailand’s National Interbank and Transaction Management and Exchange (ITMX)

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , today announced that Thailand’s National Interbank Transaction Management and Exchange (ITMX) has successfully implemented ACI’s real-time payments solution to modernize Thailand’s bulk payments processing system and support continued real-time growth.”
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Global

The Bank of Thailand Announces the Prototype Development Project of Central Bank Digital Currency (CBDC)

“The Bank of Thailand (BOT) has announced the project to develop the prototype of the payment system for businesses using Central Bank Digital Currency (CBDC), which will build upon knowledge from Project Inthanon. The project scope will include conducting a feasibility study and developing a process to integrate CBDC with the business’ innovative platform. The […]
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Global

Deutsche Bank Launches PromptPay Instant Payments in Thailand

“Deutsche Bank AG, Bangkok Branch today announced the launch of PromptPay instant payments in Thailand. As part of the phase one roll-out, the bank will be offering its clients instant collections throughout Thailand. Later in the year, phase two will enable instant payments to be made throughout the country. PromptPay collections for corporates are fast […]