04 Oct '17, 11pm

Singapore and Thailand discuss connecting their national digital payment systems

Singapore and Thailand are in discussions about connecting their national digital payment systems to forge an unprecedented regional alliance, as officials step up efforts to curb the use of cash. The link would bring together Southeast Asia’s first national digital-payment platforms, Singapore’s PayNow and Thailand’s PromptPay , said Naphongthawat Phothikit , director of payment systems policy at the Bank of Thailand. Napongthawat Phothikit Photographer: Amanda Mustard/Bloomberg “The Monetary Authority of Singapore and the Bank of Thailand are exploring the possibility" of a link between the two networks, Naphongthawat said in an interview in Bangkok. Discussions are at a preliminary stage, and it’s too early to talk about details or a time-line, he added. The prospective tie-up is the latest effort by Asian nations to modernize the payment process. Governments from India...

Full article: https://www.bloomberg.com/news/articles/2017-10-04/singap...

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