BANGKOK — The Bank of Thailand (BOT) has launched a cross-border QR payment linkage with China, making it the ninth country to join Thailand’s regional real-time payment network.
The new system aims to boost tourism, trade, and investment between the two nations by allowing Chinese visitors to make payments directly through Alipay, UnionPay, and WeChat Pay at Thai merchants displaying local QR codes.
The initiative connects the instant retail payment systems of Thailand and China through private-sector collaboration under the BOT’s supervision. It allows Chinese visitors to make purchases in Thailand by scanning Thai QR codes issued by local banks including Bangkok Bank, Krungthai Bank, Kasikornbank, Industrial and Commercial Bank of China (Thai), Siam Commercial Bank, and the Bank for Agriculture and Agricultural Cooperatives.
Additional banks, such as Krungsri, GSB, HSBC, and TTB, will join the system soon.
The BOT said the linkage will facilitate economic activities, particularly in the tourism sector. More than 8.8 million Thai and Chinese tourists traveled between the two countries in 2024.
National ITMX (NITMX), the three Chinese service providers, and the Thai settlement banks — Bangkok Bank and Krungthai Bank — jointly developed the system to enable real-time settlements between the two countries.
The BOT emphasized that cross-border, real-time payment linkages enhance convenience for consumers and open new trade opportunities for businesses through a secure, efficient, and low-cost payment system.
Thailand currently has similar payment collaborations with nine jurisdictions — China, Cambodia, Hong Kong, Indonesia, Japan, Laos, Malaysia, Singapore, and Vietnam — supporting regional economic integration and the transition toward a digital economy.
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