MAS and Bank of Thailand connect retail real-time payments
Transaction times will be reduced to minutes as opposed to one to two days, central banks say
The Monetary Authority of Singapore and Bank of Thailand have linked their country’s retail real-time payment systems, saying this would sharply cut transaction times.
No other central banks around the world have connected their retail instant payment networks. Both systems have been designed by Vocalink, now a subsidiary of MasterCard.
In a joint statement today (April 29), the central banks said Thailand’s PromptPay system had been connected to Singapore’s PayNow network.
Since its launch
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