The Bank of Thailand is set to launch Cross-Border QR Payments with India

The Bank of Thailand has announced plans to launch QR code cross-border payments with India by the third quarter of this year, aiming to incorporate these transactions into a wider Asian multinational payment network.

This initiative marks the latest expansion of Thailand’s cross-border payment system, which already encompasses Singapore, Malaysia, Indonesia, Laos, Cambodia, Vietnam, Hong Kong, and Japan.

• The Bank of Thailand plans to launch QR code cross-border payments with India by the third quarter of this year, aiming to expand the network to other countries in Asia.
• PromptPay, Thailand’s electronic payment platform, has seen significant growth and is set to potentially set a new transaction record this year.
• Cross-border remittances and money transfers are set to become more efficient through multinational linkages, following the successful establishment of QR code payment…