Partnership Overview

The collaboration between NITMX, Ant International, and Krungthai Bank aims to enhance inbound payment options through PromptPay and Alipay, providing improved convenience for Chinese travelers visiting Thailand.

Details of the Partnership

Under the guidance of the Bank of Thailand, the partnership focuses on enhancing payments connectivity for Thai merchants engaging with Chinese consumers, using PromptPay.

Key Features

• QR Payments: Chinese travelers can use Alipay to make payments at various merchants by scanning the PromptPay QR code.
• Economic Impact: This initiative is anticipated to stimulate tourism and trade between Thailand and China.

Statements from the Leadership

Chatchai Dusadenoad, Managing Director of National ITMX, commented:

“The launch of cross-border payment services between PromptPay and Alipay… opens new business opportunities for Thai merchants.”

Edward Yue, General Manager for SEA, ANZ and South Asia at Ant International, stated:

“Our partnership… will unlock new opportunities in the next chapter of the journey between both countries.”

Nareerut Ariyaprayoon, Head of Retail Banking at Krungthai Bank, expressed:

“This serves as a vital mechanism to stimulate the local economy and drive sustainable growth.”

Conclusion

The initiative marks a significant step toward improving financial connections between Thailand and China, promising benefits for both local businesses and travelers.