The PayNow-PromptPay linkage will allow customers of participating banks to transfer funds of up to $1,000 or 25,000 baht (S$1,060) daily across the two countries. - BANGKOKBANK.COM
SINGAPORE (The Straits Times/ANN): The local PayNow system that lets individuals transfer money using just a mobile number will be linked to Thailand s PromptPay version on Thursday (April 29), the Monetary Authority of Singapore (MAS) and Bank of Thailand (BOT) said in a joint statement.
The linkage between the two countries national fast payment systems is the first of its kind in the world, they said.
Three of Singapore’s 12 PayNow banks are participating in the scheme DBS Bank, OCBC Bank and UOB together with four banks in Thailand Bangkok Bank, Kasikorn Bank, Krung Thai Bank and Siam Commercial Bank.
QR move to ease cross-border payment bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.