payments
- Business News
Central Group, Thai banks initiate tourist QR payments
The Central Group of companies, which includes Central Retail Corporation, Central Pattana, and Centara Hotels and Resorts, has joined forces with the Bank of Thailand and six leading commercial banks to launch a cross-border QR payment service for tourists. The banks involved in this collaboration are Bangkok Bank, Kasikornbank, Krungthai Bank, Siam Commercial Bank, Bank of Ayudhya, and CIMB Thai…
- Thailand News
Thailand drives PromptPay QR code payments forward
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. This strategic move aligns with the growing global trend toward digital financial solutions and aims to enhance financial inclusion and cross-border transactions. A key focus of the BOT‘s initiative is…
- Business News
Thailand and India to launch QR cross-border payments
The Bank of Thailand (BoT) is set to introduce QR code cross-border payments between Thailand and India by the third quarter of this year, with a broader vision to expand this system into a pan-Asian multinational payment network. The Assistant Governor for Payment Systems Policy and Financial Consumer Protection Group at the central bank, Daranee Saeju, revealed that the payment…
- Thailand News
Thailand News Today | Prayut acquitted, Chinese probe, Speed limit 120 kph | December 2
The Thai Prime Minister, Prayut Chan-o-cha has been acquitted by the Constitutional Court. Full story HERE. Thai Airways to resume flights from Bangkok to Chiang Mai and Phuket After nearly 9 months on the ground due to the coronavirus pandemic, along with problems balancing their accounts, Thai Airways will resume flights between Bangkok and Chiang Mai as well as Bangkok…
- Covid-19 News
Coronavirous cash handouts may not last full 6 months
The much touted 5000 baht handouts to “informal workers” affected by the Covid-19 coronavirus, originally announced for 3 months but later extended to 6, may not actually last that long, Thailand’s finance minister said yesterday. More than 20 million people have signed up for the grants, but only some 9 million of them are eligible, and the government has issued…
- Covid-19 News
Nearly 20 million try to register, crashing Thai government’s payout website
Four major Thai banks closed their branches this weekend, partly in anticipation of a surge of applicants for the governments recently announce 5000 baht handout scheme for “informal” workers affected by the Covid-19 coronavirus pandemic. According to Krungthai Bank, nearly 20 million people tried to log in and register on the government’s payout website, which opened last night, significantly higher…
- Covid-19 News
Hundreds of Thai hotels seek aid to protect employees
Will the Thai Social Security Office compensate hundreds of hotels pursuing emergency assistance? Hotels are doing it hard as tourism has come to a virtual halt inside Thailand and hotels are either closing or scaling back their operations substantially. Yesterday, The Thai Hotel Associations sent a letter to the Thai Chamber of Commerce notifying them that hundreds of hotels are…
- Covid-19 News
Banks stay open during state of emergency
The good news is you can still get to your money, most branches will stay open (for now) and ATMs will stocked with cash. The Bank of Thailand and other financial institutions say that they will keep as many branches open as possible to ensure businesses can continue to operate during the Covid-19 emergency. BoT, the Thai Bankers’ Association, the…
- Covid-19 News
7 key service required by all Thai banks during ‘disruption’
The Bank of Thailand is demanding all Thai financial institutions to continue providing 7 basic financial services, including money withdrawals, fund transfers, deposits, payments, cash management and settlement systems, in an effort to avoid potential Covid-19 related disruption. Secretary-general of the Thai Bankers Association, Kobsak Duangdee, says after the conference call between all banks and the central bank, they’ve all…
- World News
Nium partners with Visa for new instant money transfers in SE Asia
‘Nium’, a new digital cross-border payments platform, will now enable users to make real-time money transfers to Visa debit cardholders across Southeast Asia including Viet Nam. It is based on Visa’s real-time push payments solution called Visa Direct. Nium is the first fintech-based money transfer service provider in Southeast Asia to offer instant money transfer through recipients’ 16-digit Visa debit…
- Tourism News
Visa-on-arrival passengers from 18 countries can now apply online
PHOTO: travellingsands.com Visitors from 18 countries, entitled to visas-on-arrival, are being advised by the Tourism Authority of Thailand to apply online for their e-visa. Thai Residents reports that nationals of Bhutan, Bulgaria, China, Cyprus, Ethiopia, Fiji, Georgia, India, Kazakhstan, Malta, Mexico, Nauru, Papua New Guinea, Romania, Saudi Arabia, Taiwan, Uzbekistan and Vanuatu are all exempt from paying the 2,000 baht…
- Business News
SE Asian banks slowly giving way to e-payments and payment apps
PHOTO: starbucks.com That cold, hard cash in your pocket, and the traditional shop-front banks that give it to you, are slowly being phased out and replaced with e-payments. It’s now expected that traditional banks in South east Asia will miss out on as much as US$5 billion, or 14.3% of their payments revenue by 2025. A report says they are…
