Krungsri launches cross-border QR payment for Thais in Japan
Krungsri (Bank of Ayudhya) has teamed up with Japanese tech giant NTT DATA to launch MyPromptQR – a cross-border QR code payment platform for Thai consumers in Japan.
The collaboration marks another milestone in Krungsri’s “Digital First” strategy, after it last year became the first Thai bank launch a cross-border QR payment system in Japan.
“We are very pleased to work with NTT DATA which facilitates the largest card settlement network in Japan through its established business platform. The Krungsri- NTT DATA synergy has contributed to the success of Krungsri’s journey to capture business opportunities in Japan,” said Sayam Prasitsirigul, acting head of Digital Banking and Innovation Division.
“Equipped with innovative financial know-how together with NTT DATA’s collaboration and by leveraging comprehensive expertise and extensive networks of Krungsri’s parent company, Mitsubishi UFJ Financial Group [MUFG], which is Japan’s largest financial institution and one of the world’s leading financial groups, Krungsri is in a solid position to offer MyPromptQR, a state-of-the-art financial innovation, to better meet diverse demands of its customers internationally and to set a strong foothold in the QR payment in Japan.”
MyPromptQR, Thailand’s first business-scan-consumer cross-border QR code platform in Japan, can be accessed through the Krungsri Mobile App and other banks’ apps. It is designed to make payments faster, more secure and more convenient for both consumers and businesses, cutting out the need to handle cash. Users present their one-time QR code generated on a mobile banking app to merchants to scan for payment, without the need to enter the amount.