Hong Kong and Thailand join FPS with PromptPay, unlocking cross-border QR payment linkage

[snoop1130]

 

In a move set to redefine international payments, Hong Kong‘s Faster Payment System (FPS) joined hands with Thailand‘s PromptPay, unlocking a seamless cross-border QR payment linkage.

 

Hong Kong and Thailand have unleashed a financial revolution, enabling residents to flex their digital wallets across borders. The cross-border QR payment linkage between Hong Kong’s FPS and Thailand’s PromptPay is set to transform the way we make payments internationally.

 

For eager users diving into this innovative payment playground, the daily transaction limit is a generous HK$10,000 (45,000 baht). But that’s not all! Plans are already in motion to extend this groundbreaking linkage to other countries in the near future.

 

Good news for Hong Kong merchants! Joining this revolutionary programme incurs zero fees, making it an irresistible opportunity to tap into the borderless future of payments. Say goodbye to traditional limitations and hello to a global marketplace accessible at your fingertips.

 

By Puntid Tantivangphaisal

Caption: Photo courtesy of godigit.com

 

Full story: The Thaiger 2023-12-01

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[hotchilli]

12 hours ago, snoop1130 said:

Good news for Hong Kong merchants! Joining this revolutionary programme incurs zero fees, making it an irresistible opportunity to tap into the borderless future of payments. Say goodbye to traditional limitations and hello to a global marketplace accessible at your fingertips

It is 2023 after all

[koolkarl]

With all info stored on government computers forever.  You are tracked night and day when you use this payment method.  Cash is the way to go as always.

[khunjeff]

As usual, a lot of hyperbolic verbiage and zero explanation of how this would actually work in practice for travelers from Thailand to HK.

[TravelerEastWest]

Sadly I don't think this will work for businesses in America as people often have cash reward credit cards...

[gargamon]

So this is China's way of taking over the world's currencies, instead of making the Yuan dominant. 

[Caldera]

7 hours ago, khunjeff said:

As usual, a lot of hyperbolic verbiage and zero explanation of how this would actually work in practice for travelers from Thailand to HK.

 

You scan a Hong Kong QR code with your Thai banking app. Easy. 

[timendres]

Hopefully the Thai banks are ready for the HK/Chinese hackers - they are not rookies.

[Lemsta69]

6 minutes ago, Caldera said:

 

You scan a Hong Kong QR code with your Thai banking app. Easy. 

 

What's the FX spread going to be like though? That's the $64,000 question.

[samtam]

13 minutes ago, Caldera said:

 

You scan a Hong Kong QR code with your Thai banking app. Easy. 

 

And you can scan a Thai QR code with your FPS (on HSBC Hong Kong app)?

[jacko45k]

On 12/2/2023 at 1:20 PM, gargamon said:

So this is China's way of taking over the world's currencies, instead of making the Yuan dominant. 

I was thinking this as Hong Kong is not an independent region in the slightest.....it must have benefits for China else it would not be happening.