Bangkok Bank launches cross-border mobile payments with Vietnam
Bangkok Bank (BBL) unveiled a cross-border QR payment service enabling customers to make transactions between Thailand and Vietnam on Friday.
Charamporn Jotikasthira, BBL executive director, said the service allows customers in Thailand and Vietnam to make QR payments via mobile banking application between the two countries.
"It also helps customers reduce foreign exchange costs as they are able to pay in their own currency, which is cheaper than payment via credit or debit cards," he said.
He said consumers nowadays were familiar with electronic payments, thanks to the Covid-19 outbreak.
He added that BBL transactions via e-payment and QR code payment last year (2020) totalled 13.39 million, up 49.14 per cent compared to the previous year (2019).
"Cross-border QR payment helps meet demand from migrant workers and people who are purchasing goods online at this time, so we believe this service will play an important role in supporting economic activities once the Covid-19 outbreak resolves," he added.
This cross-border QR payment service is the fruit of cooperation between BBL, the Bank of Thailand and State Bank of Vietnam.