PromptPay service launch postponed until early next year

 

 

BANGKOK: -- The Bank of Thailand and the Thai Bankers Association have agreed to postpone the launch of PromptPay money transfer service until the first quarter of next year instead of end of October as earlier scheduled.

 

Central Bank’s assistant governor financial payment policy and financial technology Ms Sirithida Panomwan na Ayudhya said that the postponement of the launch of the electronic money transfer service was proposed by the TBA so that all the banks which participate in the programme would have enough time to test their systems to ensure their stability, effectiveness of long-term service and safety for members of the public who subscribe to the service.

 

However, she said that PromptPay service for the transfer of welfare fund from the state to members of the public would be ready for the launch in the fourth quarter of this year.

 

Full story: http://englishnews.thaipbs.or.th/promptpay-service-launch-postponed-early-next-year/

 

-- © Copyright Thai PBS 2016-10-13

I think that maybe the real reason is the lower cost of transferring money has made the banks think twice and someones hands have been greased to delay the launch.

Or the fact that it was rammed down everyone's throat and they never had the tech in place to begin with.

The one thing (the only thing) that has pleasantly surprised me about the Thai banking system is that when I transfer money to someone else's account via Internet banking it tells me immediately and before I finalise the transaction the name of the account to which I'm transferring the money. So whether the reason is that they don't have the technology in place for PromptPay or whether, as they say, it hasn't been sufficiently tested is one where I'm prepared to come down on the side of the official explanation  - it hasn't been sufficiently tested

I can only wish for "Prompt Pay" to work for me when my retirement funds are transferred from the New York  branch to the local branch handling my money. It "only" took one week the last time from issue date to usable date.

I just wish I could pay my (Provincial) Electricity Authority and Water Authority bills online or by internet banking. You can pay electricity for Met Authority in Bangkok by internet banking but not outside Bangkok, mad!

8 hours ago, HooHaa said:

Or the fact that it was rammed down everyone's throat and they never had the tech in place to begin with.

 

Indeed. I suspect a serious flaw was discovered, and the fix requires months of reworking code.

I Avoid plastic and mobile phone payments ,of any kind ,all the scams and criminal activity is done on these platforms and there is no compensation scheme here if things go wrong with your account, we read on here regularly of people with hundreds of fake cards because they know the security is not up to scratch on the ATM's etc.

 

I just wish I could pay my (Provincial) Electricity Authority and Water Authority bills online or by internet banking. You can pay electricity for Met Authority in Bangkok by internet banking but not outside Bangkok, mad!

PEA draws the cash/bill directly from my account monthly.

No action needed from my side.

Assayer, my funds transfers from my home bank in USA to NY branch of Bangkok Bank take three days to being available for me locally (excluding holidays). For a $10 fee, my bank will expedite it in one day.


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I Avoid plastic and mobile phone payments ,of any kind ,all the scams and criminal activity is done on these platforms and there is no compensation scheme here if things go wrong with your account, we read on here regularly of people with hundreds of fake cards because they know the security is not up to scratch on the ATM's etc.
 

I take it you use cash to buy your tin foil hats?

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4 hours ago, andy8017 said:

I Avoid plastic and mobile phone payments ,of any kind ,all the scams and criminal activity is done on these platforms and there is no compensation scheme here if things go wrong with your account, we read on here regularly of people with hundreds of fake cards because they know the security is not up to scratch on the ATM's etc.

 

It's not just the security on the ATMs. When I use my ATM/debit card to pay for goods in shops, no one has ever, ever, ever, checked my signature on the slip I sign against my signature on the back of my card. For that reason, and just because I can, I have been signing my name as "Enid Blyton" (a Britsh childrens' author) for the last three years. I used "Rumpelstiltskin" a couple of times.

 

Once, my wife left her ATM/debit card in the ATM slot. She went back twenty minutes as soon as she realised, the card had gone.
She phoned the police and also the bank to stop the card.The bank told her after the ATM withdrawl she made, the card had been used in Big C. Wife went to Big C, who were very helpful. They told her the time of the transaction, the amount (about 3,000 Baht) and the fact the person had used their own Big C loyality card at the same time! Police were given the card details and went round to arrest the woman at home. Wife got her money back from the thief plus 1,000 Baht compensation and the police charged the woman with theft/fraud.

Not the sharpest tool in the box.