The Bank of Thailand (BOT) is accelerating its efforts to expand the digital payments ecosystem, aiming to make transactions more accessible and convenient for both Thai citizens and foreign visitors.
A key focus of the BOT‘s initiative is the establishment of partnerships with various countries, including China, to develop interoperable QR code payment systems. This would allow users to seamlessly make payments at merchants across borders by simply scanning QR codes with their mobile devices.
Thailand’s PromptPay system, a popular mobile payment platform, is already operational in several countries across Southeast Asia, demonstrating the country’s commitment to regional financial integration.
The potential of the digital payments market in Southeast Asia keeps growing. The transaction value is projected to reach US$287.20 billion this year.
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