Bangkok Bank gets green light from Bank of Thailand for nationwide QR Code payments through PromptPay
November 15, 2017
Bangkok Bank Executive Vice President Prassanee Ouiyamaphan is pleased the bank has received approval from the Bank of Thailand to exit the regulatory sandbox and offer QR Code payments to the public, as the bank is ready to provide services in line with the BOT’s guidelines. Customers will be able to use the Bualuang mBanking application to scan a QR Code and make an instant payment at a merchant with no need to use cash. The Bank is expanding its QR Code payment services to all targeted merchants across the country, including general stores, stalls at fresh markets, transport partners, operators in direct sales, logistics operators, and merchants that are payroll customers. There are currently more than 17,000 shops nationwide that have registered with PromptPay and are receiving QR Code payments. PromptPay transactions are expected to grow by around 10-20 percent now that approval has been received.