Thai officials ensure 'Prompt Pay' ready for October launch

[webfact]

Officials ensure Prompt Pay ready for October launch

 

  

BANGKOK, 4 August 2016 (NNT) – Government officials have assured the public that the national E-payment system dubbed Prompt Pay will be ready for operation this October. 

Deputy Prime Minister for Economic Affairs, Somkid Jatusripitak has stated the Prompt Pay system will make financial activities more efficient, reduce business costs and afford a range of benefits to citizens. To build confidence in the E-payment system, the deputy premier has ordered the Bank of Thailand to coordinate with Cabinet members and members of the press to register them in the program. He has also called for general registration to be more widely promoted ahead of the August 15 deadline. 

Finance Minister Apisak Tantiworawong has confirmed Prompt Pay will go into operation this October, allowing for financial transactions between citizens and business entities without the need for a bank account. 

As for the installation of new Electronic Data Capture (EDC) machines for use by Prompt Pay customers, the Ministry of Finance is preparing to offer incentives such as tax breaks to stores that allow their installation. A firm conclusion on the incentives is expected during September.

 

-- nnt 2016-08-05

[helpisgood]

If you are interested in more info about this new program, I have quickly found the following off Google:

 

http://www.bangkokpost.com/news/general/1011321/e-payment-will-eliminate-most-bank-transfer-fees

 

http://englishnews.thaipbs.or.th/171205-2/

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/NationalEpayment/Pages/index.aspx

 

There's also a thread about it on T.V. (there's one or more also at that same business and banking forum):

 

 

[tails]

Aside from the low/no-fee electronic transfer from one bank to another, are there any other benefits to this?

 

It's only for transactions from Thai bank to Thai bank right?

[ubonjoe]

I am registered for it. Had a popup message last month on my online banking site last month selected the account I wanted to have registered and entered my mobile number. Have since gotten a email confirming the registration with the terms and conditions.

[cracker1]

3 hours ago, tails said:

Aside from the low/no-fee electronic transfer from one bank to another, are there any other benefits to this?

 

It's only for transactions from Thai bank to Thai bank right?

Don't think so ?

" Finance Minister Apisak Tantiworawong has confirmed Prompt Pay will go into operation this October, allowing for financial transactions between citizens and business entities without the need for a bank account.  "

[Thian]

Great so the staff has more time to help me changing cash money! And i won't change that untill they stop with charging me 220 baht for using a thai atm.

[Reigntax]

Now that the government official has assured us it will be operational by October at least this provides some certainty.

 

We know it still wont be operatiOKnal by next year.

[NongKhaiKid]

In LoS anything entitled Prompt Pay is less than convincing.   

[Thechook]

Is that Ronnie Corbett?

[NongKhaiKid]

5 minutes ago, Thechook said:

Is that Ronnie Corbett?

No but he is a better comedian.

[piewarmer]

It says you HAVE to have a Thai ID card.

 

[lassebasse]

12 hours ago, cracker1 said:

Don't think so ?

" Finance Minister Apisak Tantiworawong has confirmed Prompt Pay will go into operation this October, allowing for financial transactions between citizens and business entities without the need for a bank account.  "

You do need a Bank Account, you just do not need to remember the AC-number, only your Phone-number. Cannot understand how this is supposed to work. They will have some kind of  Electronic Data Capture (EDC) machines but how will they work? How are people going to identify themselves in a secure way? These machines which does not exist today are going to operational in October. Sounds like a joke to me.

[sharecropper]

The woeful concept of online security here makes Prompt Pay a dangerous prospect IMO.  Especially when you are not guaranteed getting your money back if you are hacked through your mobile. I mean, they can't even secure a ballot box.

 

Cyber hackers love Thailand - remember the Koh Tao verdict-related Government website hacks - all done with ease and impunity.

[Oxx]

4 hours ago, piewarmer said:

It says you HAVE to have a Thai ID card.

 

 

Some banks (e.g. Krung Sri) require you to have a Thai National ID card.  Others don't.  It's very inconsistent, and clearly poorly thought out.