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Bangkok Bank expands QR payments between Thailand and Hong Kong via Bangkok Bank Mobile Banking while emphasizing its role as a leading regional financial institution leveraging cross-border payment infrastructure
Bangkok Bank expands QR payments between Thailand and Hong Kong via Bangkok Bank Mobile Banking while emphasizing its role as a leading regional financial institution leveraging cross-border payment infrastructure
Bangkok Bank is ready to provide a cross-border QR payment service between Thailand and Hong Kong which Bangkok Bank Mobile Banking users can use to scan and pay for goods and services in Hong Kong conveniently and securely. With the provision of the cross-border payment system between Thailand and Hong Kong, the Bank will expand its network of cross-border services and strengthen its role as a leading regional financial institution leveraging cross-border payment infrastructure to further cover the whole region.
Bangkok Bank Executive Vice President Suyanee Puripanyawanich said Bangkok Bank, as a ‘leading regional financial institution’ is ready to provide and expand its cross-border QR payment service between Thailand and Hong Kong. The cross-border QR payment between two countries is a collaboration between the Bank of Thailand (BOT) and Hong Kong Monetary Authority (HKMA). The service will serve Bangkok Bank customers who travel to Hong Kong allowing them to make payments for products and services conveniently, promptly and securely using Bangkok Bank Mobile Banking at merchants with the Faster Payment System (FSP) signage in Hong Kong. The service will be available 24 hours a day and customers can also set a daily limit for the service; in addition to the convenience of not needing to carry cash or exchange currencies. Once a transaction is confirmed the Bank will deduct money immediately from the account in Thai baht and the merchant will receive money in Hong Kong dollars without service fee charges. Moreover, the service will enable Thai merchants to accept payments via PromptPay QR from Hong Kong tourists or businessmen traveling to Thailand.
Miss Suyanee added that Bangkok Bank has continuously developed its cross-border QR payment service with the aim to become a leading regional provider of cross-border payment system. This aligns with the BOT’s goal to increase efficiency by linking the Thai system to an international payment infrastructure under a single regional standard. Bangkok Bank is the first bank in Thailand to launch the cross-border QR payment service, which is now available in Vietnam, Indonesia, Malaysia, Singapore and Cambodia, in addition to Hong Kong. The Bank will continue to expand its cross-border QR payment service so that in the future it will covers the entire region.
Bangkok Bank Executive Vice President Suyanee Puripanyawanich said Bangkok Bank, as a ‘leading regional financial institution’ is ready to provide and expand its cross-border QR payment service between Thailand and Hong Kong. The cross-border QR payment between two countries is a collaboration between the Bank of Thailand (BOT) and Hong Kong Monetary Authority (HKMA). The service will serve Bangkok Bank customers who travel to Hong Kong allowing them to make payments for products and services conveniently, promptly and securely using Bangkok Bank Mobile Banking at merchants with the Faster Payment System (FSP) signage in Hong Kong. The service will be available 24 hours a day and customers can also set a daily limit for the service; in addition to the convenience of not needing to carry cash or exchange currencies. Once a transaction is confirmed the Bank will deduct money immediately from the account in Thai baht and the merchant will receive money in Hong Kong dollars without service fee charges. Moreover, the service will enable Thai merchants to accept payments via PromptPay QR from Hong Kong tourists or businessmen traveling to Thailand.
Miss Suyanee added that Bangkok Bank has continuously developed its cross-border QR payment service with the aim to become a leading regional provider of cross-border payment system. This aligns with the BOT’s goal to increase efficiency by linking the Thai system to an international payment infrastructure under a single regional standard. Bangkok Bank is the first bank in Thailand to launch the cross-border QR payment service, which is now available in Vietnam, Indonesia, Malaysia, Singapore and Cambodia, in addition to Hong Kong. The Bank will continue to expand its cross-border QR payment service so that in the future it will covers the entire region.
bangkokbank:assets/news/news-category/2023
December 04, 2023
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