Real-time payments

financial inclusion

Spread all around the world, and in many different life stages, are the underbanked and financially excluded.

These are the individuals and small and medium-sized enterprises (SMEs) that usually cannot count on the traditional financial industry to fulfill their financial needs and are forced to rely on informal networks.

a national e-payment initiative

Real-time payments are being used globally to provide a more seamless banking experience for the financially excluded, offering a level of trust that was previously only available through physical cash.

In December 2015, the Thai government launched the National e-payment Initiative, which aims ‘to create a cashless society, integrate the informal economy into the banking system, capture data on current social programs, and introduce greater transparency.’ One of several programs under the initiative was PromptPay, which was launched on 27 January 2017.

PromptPay allows registered customers to transfer funds using a mobile phone with only the mobile number or Citizen ID number of the recipient.

PromptPay demo

See how PromptPay works

Contact us
  • For more information about the whitepaper, contact Mark Colleran, Senior Research and Insight Manager
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