Network for Electronic Transfers (NETS) and its Thai counterpart, National ITMX, announced the expansion of their national cross-border QR payment collaboration on Aug 4.
Now, Singaporeans using DBS PayLah! and OCBC Pay Anyone will be able to scan Thailand’s national PromptPay QR to make payments at over eight million retail acceptance points.
These points are spread across popular tourist destinations such as Bangkok, Pattaya and Phuket.
UOB TMRW users will be able to do the same from next year onwards.
Singaporeans shopping at popular tourist attractions such as Chatuchak, MBK, Platinum Mall, and various bazaar markets can look out for the PromptPay acceptance mark, indicating that the merchant accepts QR payments through Thailand’s national PromptPay QR. They can also purchase BTS Skytrain tickets via PromptPay QR at ticketing kiosks.
To pay, users will simply have to scan the QR code provided, confirm the merchant’s name, as well as confirm the amount to be paid in Thai baht, exchange rate, and final amount in Singapore dollars.
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Meanwhile, Singaporean merchants spanning 120,000 acceptance points in Singapore can also look forward to accepting payments from Thai travellers, who will be able to pay via scanning any NETS QR codes with apps from participating banks and e-wallets from Bank of Ayudhya, Bangkok Bank and Krungthai Bank.
“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,” says NETS Group CEO Lawrence Chen.
“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,” says Wanna Noparbhorn, managing director of National ITMX
