Govt hopes more people will adopt Prompt Pay e-payment method

23-Jul-2016 Intellasia | NNT | 6:00 AM Print This Post

The Thai government hopes its Prompt Pay e-payment system will encourage more Thais to pay electronically instead of using cash.

Finance minister Apisak Tantivorawong said the Prompt Pay e-payment system will make money transfers easier and cost effective, as a transfer fee will not be imposed up to a maximum wired transaction amount of 5,000 baht.

People without a savings account are also able to transfer or receive money electronically the same way bank clients do using Prompt Pay. They have to register at a commercial bank to be eligible to use the e-payment method. Only their identification number is required during the registration process.

Moreover, the Bank of Thailand has released a statement confirming that the Prompt Pay e-payment system is considered a secure system for its users.


Category: Finance, Vietnam

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