Krungthai Bank launches QR payment system

Tuesday 21 September 2021 15:29 CET | News

Thailand-based Krungthai Bank has opened new international money transfer and payment services using QR code between Thailand and Singapore.

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.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: mobile payments, QR payments, QR code
Categories: Payments & Commerce
Countries: Thailand
This article is part of category

Payments & Commerce