promoting e-payment : thailand...
TRANSCRIPT
Promoting e-Payment : Thailand Experience
For Session II: South East Asia: Promoting Migration to e-Payment
3 December 2018
Mr. Buncha ManoonkunchaiSenior Director, Payment Systems Policy Department
Bank of Thailand
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Payment Infrastructures
Card-based Payments
Digital Payments
FinTech & Payment Development in Thailand
RTGS cheque clearing NITMX
credit card
debit card ATM
PromptPay QR Code
biometric blockchain
From Cash to Digital
International StandardsEnablers Chip Card Security Cyber Resilience
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Government Sectors
Plan for Society and Economy
Project 1: PromptPay Payment System
Project 2: Card Expansion
Project 3: e-Tax System
Project 4: Government e-Payment
Project 5: Literacy and Promotion
Project 6: Capital Market Settlement
• Digital economy : Thailand 4.0
- To maximizie the adopting of digital technologies in all socio-economic activities; infrastructure, innovation, data, human capital, and other digital resources.
- To facilitate business to create an ease of doing business and the better value for consumers (ex. convenience, accessibility and reasonable service fees)
Business/ Private Sectors Banking / Non-bank Sectors
• Technology supporting ‘Straight-Through Processing’ transactions
- e-Invoicing/
- e-Payment/ EIPP
- e-Receipt/ e-Tax Invoice
• Payment Systems Roadmap
- Promoting electronic payment transactions
- Retail payment infrasturcture development - Payment Systems Act- International payment (connectivity)
• Financial Sector Master Plan: Phase III (2016-2020)
- Promoting Digitization & Efficiency in banking sector
- e-Procurement
- e-Tracking- e-Inventory/ e-Fulfillment
Led by BOT
Digital
Banking/Payment
Digital Business
Digital Government
Thailand 4.0 : Digital Economy
e-Payment & FinTech
Payment Service Providers
Banks SFIs Non Banks
Growth Rate in Transaction Volumesfrom 2016-2017
Mobile Banking 110%
e-Payment
Debit Card 44%
Digital Payment 30%
Project 1 : PromptPay Payment System
Project 2 : Card Expansion
Project 3 : e-Tax System
Project 4 : Government e-Payment
Project 5 : Literacy and Promotion
Project 6 : Payments for Capital Market
45.7Million IDs
as of November, 2018
870 M
No. of PromptPay registration
Transferred Volume
THB 4.4 TnTotal Value
as of November, 2018
Mobile No.
National ID No.
Corporate Tax No.
E-wallet ID
Adoption
Various services on PromptPay infrastructure
Funds transfer
to IDs
Cross-bank
Bill Payment
Request-to-Pay
QR code
Payment
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Initiatives Fostering Payment & FinTech
Financial Innovations in Thailand
Standard
QR Code
Multiple
sources of
funds
Standard/Open API Gateway/Hub
Blockchain Community
National Digital ID Platform
Thai Standard QR Code Strategy
Availability
Accessibility
Affordability
for payments of off-line and on-line
merchants
for domestic and international users & payment instruments
for middle and lower market segments
an open infrastructure and
interoperability in payment and financial systems
ONE QR Code for
ANY mobile applications
ALL merchants
MULTIPLE payment instruments
OPEN infrastructure
CROSS-BORDER payments
Standard QR Code for Payment
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EMVCo Compatible Standard
street vendors
shops
motorcycle taxis
dessert café
wet markets
All merchants in our daily life Government School
“Standard QR Code has reached more than 2 million merchants* in Thailand”
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Transportation
Buses
Tuk-Tuks
Trains Express Boats
Standard QR Code for Payment
* Online and offline merchants combined
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Key Success Factors to Promote e-Payment & Innovation
Open
Infrastructure & Interoperability
Industry Collaboration
Supportive Regulations
Adequate
Financial
& Technology Literacy
e-Payment & Innovation
Thank you