Prompt­pay Sys­tem Launched

Thai-American Business (T-AB) Magazine - - Thailand 4.0: Investment- Led Transformation -

The Thai gov­ern­ment of­fi­cially launched the Prompt­pay sys­tem on Jan­uary 27, 2017 as part of the Thai­land 4.0 agenda and to sup­port the Na­tional e- Pay­ment strat­egy. This lat­est fi­nan­cial in­no­va­tion is a new, low- fee al­ter­na­tive for fi­nan­cial trans­ac­tions. Trans­fers of no more than Baht 5,000 are free of charge. In ad­di­tion, the new ser­vice is ex­pected to re­duce cash trans­ac­tions by 30 per­cent, sav­ing the coun­try cash man­age­ment costs of Baht 20 bil­lion per year for the next 10 years.

This pro­gram en­ables fast, con­ve­nient, and se­cure trans­ac­tions ac­cord­ing to international ISO 27001 stan­dards, au­dited by Bank of Thai­land. Peo­ple can make trans­ac­tions via ATM, mo­bile phone, or in­ter­net bank­ing by in­putting the re­cip­i­ent’s 13- digit na­tional ID num­ber or mo­bile phone num­ber with­out hav­ing to in­put a bank ac­count num­ber.

Law­ful chil­dren ( no cap)

Adopted chil­dren ( capped at 3)

Newspapers in English

Newspapers from Thailand

© PressReader. All rights reserved.