Payments Thailand

NETS and Thailand’s National ITMX Expand Cross-Border QR Payment Ties

Network for Electronic Transfers (NETS), Singapore’s payment services group, and National ITMX, Thailand’s key inter-bank payment infrastructure and central data processing system, announced the expansion of their cross-border QR payment collaboration.

This partnership will facilitate inbound and outbound cross-border payments between Singapore and Thailand.

Singaporeans using local banking apps, DBS PayLah! and OCBC Pay Anyone, will be able to scan Thailand’s national PromptPay QR to make payments at over 8,000,000 retail acceptance points across popular tourist destinations such as Bangkok, Pattaya, and Phuket.

UOB TMRW users will be able to do so as well from next year.

Local merchants will be able to accept payments from Thailand travellers who can now make QR payments in Singapore by scanning any NETS QR with apps from participating banks and e-wallets from Bank of Ayudhya, Bangkok Bank and Krungthai Bank.

As a result of the collaboration, NETS merchants spanning across 120,000 acceptance points in Singapore will be able to accept cashless payments from participating Thai banks or e-wallets.

NETS merchants in Singapore are already able to accept WeChat Pay and Bhim QR payments, BCA, RuPay and MyDebit bank cards as well as e-wallets participating in Alipay+ solutions.

Lawrence Chan

Lawrence Chan, CEO of NETS Group said,

“Singapore consumers travelling to Thailand can look forward to shopping without hassle. More small merchants that previously accepted cash only are now able to accept QR payments through this service. In addition, consumers are able to enjoy competitive exchange rates and yet not deal with currency cash conversion.

Likewise, local merchants in Singapore can increase their customer base by offering more digital payment options to incoming travellers from Thailand. Having a QR payment option with competitive exchange rates will increase convenience for shoppers as they no longer need to worry about having cash on hand.”

Wanna Noparbhorn

Wanna Noparbhorn, Managing Director of National ITMX said,

“NITMX always strives to build sustainable infrastructure for the financial service industry in Thailand and we are delighted to partner with NETS to enable the world’s first FAST (fast and secure transfers) cross-border payment service between Singapore and Thailand.

As the borders are now open, travellers to Thailand can enjoy cashless payments while traveling and shopping by simply using PayLah! and Pay Anyone at various acceptance points throughout Thailand.”