By The Nation
Visa announced last November it had received a domestic network licence from the Bank of Thailand.
“By operating as a processor of domestic debit transactions, Visa is well positioned to leverage its strengths and network to continually drive innovation and expand access to electronic payments in Thailand creating a more financially inclusive ecosystem for all,” Visa Thailand Country Manager Suripong Tantiyanon said.
“Visa Debit will be a stepping stone for further adoption of electronic payments in the country and strengthens the country’s national e-payment agenda.”
Through a partnership with National Interbank Transaction Management and Exchange (National ITMX), Visa is now providing banks and merchants in Thailand with a comprehensive range of debit products and resources.
A Visa debit card provides consumers with fast, simple and secure access to the funds in their bank account and can be used to make purchases wherever Visa is accepted online and at more than 46 million merchant locations around the world.