Mr. Phayong Srivanich, President Krung Thai Bank Public Company Limited (KTB) revealed that the bank has successfully developed QR Cross-Border Payment service to provide cross-border payments for goods and services. between Thailand and Singapore via QR Code system, being the first bank in the country
It was selected to be the bank responsible for settlement of international transactions (Settlement Bank), which is an extension of the cooperation project of the Bank of Thailand (BOT) and the Central Bank of Singapore. Its purpose is to increase efficiency and promote the integration of international financial infrastructure. to be able to link under the same standard across the region By developing from the success of the standard QR Code development in Thailand. To make international payments efficient This is in line with the payment plan, which is one of the five main ecosystems that the Bank aims to enhance its services to meet all customer segments.
In this regard, cross-border payments with QR Cross-Border Payment are convenient, fast and secure. Transactions can be made via the Krungthai NEXT application to easily pay for goods and services in Singapore by simply scanning the QR Code of NETS, the provider. Major digital payment services cover over 80% of leading merchants across Singapore.
Customers at participating banks in Singapore such as DBS, UOB and OCBC can use their respective bank’s applications to scan Thailand’s standard QR Code. in the payment of goods and services in Thailand easily, quickly and safely as well. Help create a better experience And worth with the best exchange rate when choosing to pay with Krungthai Inter Wallet, starting to open for service from September 22 onwards.
“The bank continues to develop products and services. to meet the needs of all customer groups Especially digital payment services, which Thai people are now familiar with paying for goods and services via QR Code. ease economic activities back to normal and opening up more countries Including international tourism began to gradually recover. This will result in the use of QR Cross-Border Payment service between Thailand and Singapore. widely This will be an important tool to help facilitate customers. and merchants to receive and pay It can help increase sales for the store. It is part of supporting economic activities to recover more quickly,” said Mr. Phong.