PromptPay links up with Singapore’s PayNow
Up to B25,000 can be transferred daily
The Bank of Thailand (BOT) and the Monetary Authority of Singapore (MAS) launched on Thursday a linkage of Thailand’s PromptPay and Singapore’s PayNow real-time retail payment systems.
Describing it as the first of its kind globally, they said in a statement the linkage followed several years of collaboration between the central banks of both countries, payment system operators, bankers’ associations and banks.
Customers of participating banks in Thailand and Singapore will be able to transfer up to S$1,000 or 25,000 baht ($800) daily between the countries, using…
