Driving Development and Inclusion

The digital payment landscape in Thailand is expanding, fueled by the widespread use of PromptPay, which was developed by National ITMX and built on Mastercard’s real-time payment technology. Introduced eight years ago, PromptPay has seen a 13% yearly transaction value increase, reflecting advancements in financial inclusion and the acceptance of digital payments among individuals.

This facilitates transactions for small and medium-sized enterprises (SMEs), such as mobile vendors, food stall owners, and tuk-tuk riders, enabling them to transition to cashless operations. Thai consumers can use PromptPay for various purposes, including shopping, receiving government benefits, and making P2P transfers.

Transactions with friends and family enable split payments via phone numbers, offering flexibility in financial exchanges. The renewed collaboration aims to optimize and build on these services, fostering further development.

Mastercard emphasized that the partnership is instrumental in shaping a robust real-time payment ecosystem, giving Thai people more options for making and receiving payments. National ITMX hopes to deepen this relationship, transforming PromptPay into an enabler of inclusive digital growth that supports individuals, SMEs, and businesses, thereby driving national development.