Customers of participating banks in both countries can now make cross-border payments faster with just a QR code scan. The new service is now available on the Krungthai NEXT mobile application, allowing users to make or receive payments to and from Singapore by making a scan.
Krungthai Bank has been selected by the Bank of Thailand as the settlement bank for QR payments between Thailand and Singapore, under a cooperative arrangement with the Monetary Authority of Singapore.
Accessing the new service, Krungthai Bank customers can scan a NETS payment QR code using the Krungthai NEXT mobile application to make payments for goods and services in Singapore. This NETS payment QR code is being used by some 80% of shops and service providers in the city-state.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now