Hong Kong and Thailand to set up cross-border payments link

New QR code payment link is the latest addition to similar initiatives in the region

global networks

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand will launch a new bilateral cross-border payments link from December 4.

Eddie Yue, HKMA’s chief executive, made the announcement today (November 2) at the Hong Kong FinTech Week.

The new infrastructure will connect the two jurisdictions’ instant payment systems – Hong Kong’s Faster Payment System (FPS) and Thailand’s PromptPay.

Hong Kong travellers in Thailand will be able to make purchases at over 8 million PromptPay merchants

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