The participating banks include DBS, OCBC, UOB, Bangkok Bank, Kasikornbank, Krung Thai Bank and Siam Commercial Bank.
MAS (Monetary Authority of Singapore) and BOT (Bank of Thailand) today linked Singapore’s PayNow and Thailand’s PromptPay, establishing a real-time retail payment channel between the two countries.
The linkage is described as “the first of its kind globally”, and represents the culmination of several years of extensive collaboration between MAS and BOT, as well as Singapore and Thailand’s payment system operators (NETS Group, National ITMX Company), bankers’ associations, and participating banks.
MAS managing director Ravi Menon announced at last year’s Singapore Fintech Festival that the cross-border payment link would go live by mid-2021. The initiative was a key collaboration under ASEAN Payment Connectivity that was initiated in…
