Is it possible to send and pay internationally using QR codes?

 

Secondly, if possible and the bank account currencies are different what rate will be used?

 

 

 

 

Not if you are using a Thai banking app to make the payment.

12 minutes ago, blackcab said:

Not if you are using a Thai banking app to make the payment.

What about the other way around? Using a Thai QR code to receive money?

2 hours ago, stament said:

What about the other way around? Using a Thai QR code to receive money?

 

No. You cannot use a foreign bank app to scan a Thai QR code. It will not work. This is because international bank transfers require a SWIFT/IBAN number, and those are not embedded into a Thai QR code that is generated by a Thai banking app.

 

Your foreign bank app would scan the QR code, then have absolutely no idea which country in the world payment should be sent to. Don't forget that some Thai QR codes are linked to PromptPay, so all the QR code contains is a phone number.

 

How would a foreign bank app send payment to a phone number that doesn't even contain an international dialling code?

13 hours ago, blackcab said:

 

No. You cannot use a foreign bank app to scan a Thai QR code. It will not work. This is because international bank transfers require a SWIFT/IBAN number, and those are not embedded into a Thai QR code that is generated by a Thai banking app.

 

Your foreign bank app would scan the QR code, then have absolutely no idea which country in the world payment should be sent to. Don't forget that some Thai QR codes are linked to PromptPay, so all the QR code contains is a phone number.

 

How would a foreign bank app send payment to a phone number that doesn't even contain an international dialling code?

Thanks, I didn't think it would work.

19 hours ago, blackcab said:

 

No. You cannot use a foreign bank app to scan a Thai QR code. It will not work. This is because international bank transfers require a SWIFT/IBAN number, and those are not embedded into a Thai QR code that is generated by a Thai banking app.

 

Your foreign bank app would scan the QR code, then have absolutely no idea which country in the world payment should be sent to. Don't forget that some Thai QR codes are linked to PromptPay, so all the QR code contains is a phone number.

 

How would a foreign bank app send payment to a phone number that doesn't even contain an international dialling code?

 

Since QR codes can code up to 4296 alphanumeric characters, in theory it would be possible to generate a QR code with the necessary data to define an international transfer. However, a standard would need to be established so every app reading the QR code could retrieve the proper fields. I cannot find any such standard with a quick Google search. But it sure would be convenient when setting up my transfers in the KBank mobile app...

Users of Singapore's PayNow and Thailand's PromptPay will be able to send up to S$1,000 or THB25,000 daily across the two countries using just a mobile number, as the two real-time payment systems are linked. 

 

https://www.channelnewsasia.com/news/singapore/singapore-paynow-thailand-promptpay-funds-transfer-14712130