Selangor Journal
A general view of the Bank Negara Malaysia BNM) in Kuala Lumpur, Malaysia, on July 31, 2019. — Picture by REUTERS

Thailand, Malaysia central banks launch cross-border QR payment linkage

BANGKOK, June 18 — The central banks of Thailand and Malaysia (Bank Negara Malaysia) launched on Friday a cross-border QR (Quick Response) payment linkage to enable consumers and merchants in both countries to make and receive instant cross-border QR code payments.

The move is the first phase in linking the real-time retail payment systems of Malaysia’s RPP/DuitNow and Thailand’s PromptPay, they said in a statement at bit.ly/3gAlG4k.

Users in Thailand are now able to use mobile payment applications to scan DuitNow QR codes to make payments to merchants in Malaysia.

Under phase two, expected in the fourth quarter of 2021, users in Malaysia will be able to do the same with Thailand.

The final phase will enable both countries to make real-time fund transfers and is due to be in place in the fourth quarter of 2022, the statement said.

— Reuters

Top Picks

Proper guidance needed for Covid-19 self-test kit

More than 21.6 mln doses of Covid-19 vaccine administered until yesterday

Editor Selangor Journal

Higher oil price lifts ringgit