The Central Group of companies, including Central Retail Corporation, Central Pattana, and Centara Hotels and Resorts, have partnered with the Bank of Thailand and six leading commercial banks to provide a cross- border QR payment service for tourists.
The banks participating in this partnership are Bangkok Bank, Kasikornbank, Krungthai Bank, Siam Commercial Bank, Bank of Ayudhya and CIMB Thai Bank.
Tourists from Cambodia, Vietnam, Malaysia, Indonesia, Singapore, Japan, Laos and Hong Kong can now pay for products and services without the need to carry cash by using mobile banking apps from partner banks to scan QR codes.
The service enables shopping without payment fees at more than 4,000 Central Group establishments including stores, malls, hotels and restaurants throughout the country.
Daranee Saeju, assistant governor for payment systems policy and the financial consumer protection group at the Bank of Thailand, says that technology is becoming increasingly crucial in the financial services industry.
“This partnership for cross-border QR payment is a significant step forward for digital finance,” she said.
Ms Daranee said the retail payment service integrates Thailand’s instant payment system, PromptPay, with real-time payment services from various foreign countries particularly those that have high tourist traffic and strong economic ties with Thailand.
“The utilisation of cross-border QR payment not only expands the array of choices available to tourists when settling bills, but it also caters to the demands of the cashless society,” she said.
Source: Bangkok Post
