World's first.
BANGKOK - The Bank of Thailand and the Monetary Authority of Singapore today launched the linkage of Thailand’s PromptPay and Singapore’s PayNow real-time retail payment systems.
"There will be no need to populate information fields such as the recipient’s full name and bank account details, as with normal remittance solutions. The participating banks in Thailand are Bangkok Bank, Kasikornbank, Krung Thai Bank, and Siam Commercial Bank. In Singapore, DBS Bank, OCBC, and United Overseas Bank will be providers.
According to the joint statement, the BoT and MAS will progressively scale the PromptPay-PayNow linkage to include more participants and extend the transfer limits to facilitate business transactions.
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