case study


Transforming Thailand towards a digital economy

Vocalink, a Mastercard company, is helping to transform payments in Thailand, enabling people, businesses and the Thai government to send and receive money in real-time using a mobile phone number, email address or corporate or citizen ID. 

 In October 2015 we partnered with the national operator, National Interbank Transaction Management and Exchange (ITMX) to deliver the Thai government and central bank’s Financial Services Master Plan to transform the countries financial infrastructure.

PromptPay comprises a real-time clearing and settlement infrastructure — a bespoke implementation of our Instant Payment Service with a ‘translator’ for ISO 8583 to ISO 20022 messages — and a proxy look-up service that securely maps recipient aliases to bank account details.

It took 6 months to assess business requirements, and 1.5yrs to develop the systems and onboard all banks. 

“If I pay for his food, he can just PromptPay me back.”
PromptPay user


Supporting financial inclusion 

PromptPay launched with 21 banks on 27 January 2017. Two and a half years on, registrations total 49 million and the service has processed a total 765 million transactions with an average transaction value of 5,000 baht and cumulative value of 3.9 trillion baht (approximately £93bn). 

PromptPay is reducing Thailand’s reliance on a physical banking infrastructure and cash. Since going live in January 2017, PromptPay has contributed significantly to the 83% increase in digital payments in the country between 2016 and 2018. 

It enables greater financial inclusion and supports the expansion of Thailand’s burgeoning digital economy. As testament to its ubiquity, it’s been verbed: “If I pay for his food, he can just PromptPay me back.”


Transforming Thailand to a digital economy

Listen to Ian and journalist Libby Potter as they consider the impact of PromptPay, the benefits it has brought to Thai people, businesses, banks and government, and the bright prospect of future innovation.
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Instant Payment Service

A real-time clearing and settlement infrastructure for bank account-based payments with ISO 20022 messaging capabilities. 



Multi-Proxy Service

Allows people, businesses and governments to send and receive money using an alternative recipient identifier such as a mobile number, email address or citizen ID.