Thais can now use mobile banking applications to pay via QR Code in Malaysia.

Thais can now use mobile banking applications to pay via QR Code in Malaysia.

On June 20, 2021 at 4:27 p.m.

Bank of Thailand and Central Bank of Malaysia Connecting payments for retail customers in both countries, CIMB Thai Bank began to provide services through the CIMB Thai Digital Banking app.

Mr. Paul Wong Chee Kin, President and Chief Executive Officer of CIMB Thai Bank, revealed that QR Code payments between Malaysia and Thailand are now possible. Born from a collaboration between the Bank of Malaysia (Bank Negara Malaysia: BNM) and the Bank of Thailand (BOT), linking instant retail payment systems with Malaysia’s RPP/DuitNow system. and Thailand’s PromptPay system, with CIMB Thai Bank being the first service provider in Thailand. and it is expected that in the next period there will be a bank and other service providers join additional services

“Both central banks recognize the importance and work together to push forward the ASEAN Payment Connectivity Roadmap. MB and CIMB Thai Bank take part in this important roadmap. and to act as a settlement agent (Settlement Bank) to develop a payment system between Thailand and Malaysia this time With the potential of CIMB Group’s payment system network and strong network in the region and flagging as ‘a Digital-led with ASEAN Reach’ of CIMB Thai Bank,” said Mr. Paul Wong.

from today onwards Customers in Thailand can use the CIMB THAI Digital Banking application of CIMB Thai Bank to pay for goods and services. at stores and online stores in Malaysia The app is designed for customers to make payments in different currencies with a simple QR scan. The customer will see the payment in ringgit. After that, the app will convert the exchange rate to Thai baht immediately. In order for customers to know the clear amount in baht before making a payment And the exchange rate is also cheaper than using a credit card.

Customers in Malaysia can use the mobile application to scan Thai QR code to pay for goods and services. at shops and online stores in Thailand Expected to start service in Q4 2021 Scan to pay with QR Code, convenient, easy, fast for both customers and merchants from two countries. save fee And the exchange rate is cheaper than using a credit card. and help reduce the carrying of cash

for the benefit of the store as a convenience to the buyer by adding more options for receiving more money help increase sales opportunities expand customer group and reduce the burden of collecting cash as well

Mr Paul Wong said it was a good moment to prepare. Support for regional economies that will reopen after the covid situation resolves. stimulate economic activity Thai-Malaysian border trade including the popular tourist destinations of both countries It is an important step for ASEAN Payment Connectivity to promote regional financial integration by increasing efficiency, reducing costs and improving the experience of using international payment services.