PromptPay, introduced by the Bank of Thailand in 2016, has fundamentally reshaped Thailand's financial system. Its widespread adoption has transformed daily transactions, business operations, and digital economic participation, establishing it as the leading real-time payment platform. This article examines PromptPay's functionality, advantages, consequences, and future trajectory.
In a Glance





What is PromptPay?
At its core, PromptPay is a real-time payment infrastructure that facilitates instant fund transfers between bank accounts within Thailand. It's not an e-wallet or a separate account; rather, it's a system that seamlessly integrates with existing bank accounts. Users register their mobile phone number or citizen/tax ID with their bank, linking it to their account. This creates a convenient and easily shareable identifier for receiving payments. For individuals, the citizen ID card acts as the primary link, while businesses use their tax ID. This innovative approach eliminates the need for sharing complex bank account details, making transactions simpler and faster.
How Does PromptPay Work? A Step-by-Step Guide
PromptPay's user-friendliness is a key factor in its widespread adoption. The process is straightforward:
1. Registration: Users initiate the registration process through their bank's mobile banking application, internet banking platform, or even at an ATM. They choose the bank account they wish to link to PromptPay and register their preferred identifier – either their mobile phone number or citizen/tax ID. The bank verifies the information and links the identifier to the chosen account.
2. Sending Money: To send money, the sender opens his/her mobile banking application and goes to the PromptPay section. The sender inputs the recipient's registered mobile number or citizen/tax ID. The system fetches the recipient's name (or business name) for confirmation to ensure accuracy. The sender inputs the amount to be transferred and confirms the transaction through his/her bank's security protocols (e.g., PIN, biometric authentication).
3. Receiving Money:The beneficiary gets the money immediately credited in their bank account. They are notified through the app or SMS from their bank of the transaction and the received amount. This instantaneous notification ensures transparency and relief.
Payment Flows
After the customer selects Thai QR as their preferred payment method, the merchant site (payment page) should generate the QR code.

For Mobile browser:
- The user generates the QR code via the payment page.
- The customer takes a screenshot of the QR code.
- The customer logs into their bank using their mobile phone.
- The customer loads the screenshot containing the QR code using their bank app.
- The customer confirms the purchase using the bank app.

For Web/Desktop browser:
- The user generates the QR code via the payment page.
- The customer logs into their bank app on their mobile phone.
- The customer scans the code using their bank app.
- The customer confirms the purchase using the bank app.
Key Data Points
- Transaction Volume: PromptPay alone processed more than 2.1 billion transactions worth a total value of more than 4.2 trillion THB in August 2024, showing the huge proportion of its usage.
- Growth: PromptPay transactions have registered steady growth, with volume increasing by 22% in August 2024 over the same period last year.
- Mobile Banking: The prevalence of mobile banking has been a key contributor to PromptPay's success. In 2023, Thailand had 136 million internet and mobile banking accounts, up from 89.5 million in 2019.
Benefits of PromptPay
PromptPay's success is rooted in the tangible benefits it offers to both individuals and businesses:
- Instantaneous Transfers: The most significant advantage is the speed. Transactions are processed in real-time, 24 hours a day, 7 days a week, including holidays. This eliminates the delays associated with traditional bank transfers.
- Low Transaction Costs: PromptPay transactions are remarkably affordable, often free for small amounts. Even for larger transfers, the fees are significantly lower than traditional methods. This affordability makes it accessible to everyone, regardless of their financial status. As of 2024, PromptPay’s fee structure of local transactions within Thailand are as follows:
Transaction Value (baht/transaction) | Fee (baht/transaction) |
Not exceeding 5,000 baht | Free |
5,000 - 30,000 baht | < 2 baht |
30,000 - 100,000 baht | < 5 baht |
100,000 baht to the bank maximum limit | < 10 baht |
- Unparalleled Convenience: The simplicity of using a mobile phone number or ID as an identifier makes sending and receiving money incredibly convenient. One does not have to remember or provide complicated bank account information.
- Enhanced Security: PromptPay has various levels of security, such as encryption and authentication methods, that secure transactions. The system aims to avoid fraud and keep the funds safe.
- Wide Accessibility: PromptPay is linked to almost all of Thailand's major banks, and hence, it is accessible to the vast majority of people. This broad interoperability is essential for its success. There were 77.2 million PromptPay registrations in Thailand as of December 2023, which speaks volumes about its mass adoption.
- Boosting Financial Inclusion: PromptPay has played a pivotal role in bringing financial services to previously underserved populations, particularly in rural areas. It has empowered more people to participate in the formal financial system.
Banks supporting Promptpay
- Kasikorn Bank (KBank)
- Bangkok Bank
- Siam Commercial Bank (SCB)
- Krung Thai Bank (KTB)
- Bank of Ayudhya (Krungsri)
- UOB Bank
- CIMB Thai Bank
- Tisco Bank
Cross border Transactions
Japan
The cross-border QR Payment Linkage between Thailand and Japan is the result of the cooperation among Thai commercial banks and service providers in Japan, with support from the Bank of Thailand. The service allows Thai tourists to make payments for goods and services in Japan by generating buyer’s QR Codes under the MyPromptQR scheme in their mobile banking application. Japanese participating merchants then accept payments by scanning the created QR Code to ensure convenient, quick, and secure payments.
Malaysia
The cross-border payment linkage between Thailand and Malaysia successfully connects the real-time retail payment systems of two countries, PromptPay in Thailand and DuitNow in Malaysia. The service is the result of the close collaboration between the Bank of Thailand and Bank Negara Malaysia that enables safe, fast, and low-cost cross-border payments through national QR codes of both countries (DuitNow QR codes and Thai QR codes). This collaboration also marks a key milestone in the ASEAN Payment Connectivity initiative that promotes regional financial integration through increased efficiency, increased speed, reduced costs, and improved user experience.
Singapore
The world’s first real time payment linkage between Thailand’s PromptPay and Singapore’s PayNow aims to enable cross-border transfers between the two countries as it provides convenient, fast (within minutes), and safe cross-border money transfer at a fraction of the usual cost, similar to that of domestic transfers.
In the first phase, customers of participating banks may transfer their money not exceeding SGD 1,000 or THB 25,000 per day via the participating bank application using the mobile number of the recipient, without the need to provide other information like that of a usual international transfer (e.g., recipient’s name and account details).
In the future, the Bank of Thailand aims to expand the PromptPay-PayNow linkage by increasing the number of participating banks and lifting daily limits to further support business transactions.
Indonesia
The cross-border payment connection between Indonesia and Thailand bridges national payment systems of Indonesia and Thailand to facilitate cross-border QR payments. Tourists and merchants in both nations can accept and make instant cross-border QR payments. Thai travelers can use their mobile payment platforms to scan Indonesia's standardized QR code, known as QRIS (Quick Response Code Indonesian Standard), to pay merchants in Indonesia. Similarly, Indonesian travelers can utilize their mobile payment apps to scan Thai QR Codes to pay for products and services at Thai merchants.
Hong Kong
The cross-border QR payment linkage between Hong Kong and Thailand provides a fast, secure and easily accessible cross-border retail payment service to people travelling between Hong Kong and Thailand. Through this linkage, travellers from Thailand and Hong Kong will be able to make retail payments by using their mobile payment applications to scan the Thai PromptPay QR Code or Hong Kong FPS QR code displayed by merchants. Users will benefit from an additional efficient payment means, while merchants will be able to receive their funds immediately. This payment connectivity would provide travellers with greater convenience, hence supporting tourism and economic activities of Hong Kong and Thailand.
PromptPay vs Bank Transfers vs Credit/Debit Cards
Feature | PromptPay | Traditional Bank Transfers | Credit/Debit Cards |
Transaction Speed | Instant (24/7) | 1-3 days | Instant (with merchant) |
User Interface | Mobile app / QR code | Online banking / branches | POS terminals / online |
Fees | Low or free | Higher fees (up to 10%) | Variable (MDR applies) |
Cross-Border Capability | Yes | Limited | Yes |
Accessibility | High | Moderate | High |
The Transformative Impact on Thailand's Economy
PromptPay's influence extends beyond individual convenience, significantly impacting the Thai economy:
- Accelerating the Cashless Society: One of the most notable impacts is the acceleration towards a cashless society. PromptPay’s convenience and affordability in the space of digital payments have clearly shifted consumer behavior. To illustrate, in 2023, the average Thai user completed 538 digital payment transactions, a substantial increase from 135 in 2019. This demonstrates the rapid adoption of digital payment methods.
- Increasing Business Efficiency: Businesses of all sizes have benefited from PromptPay. It streamlines payment processing, reduces administrative costs, and improves cash flow management. This is particularly beneficial for small and medium-sized enterprises (SMEs).
- Fueling E-commerce Growth: PromptPay has been a key enabler of e-commerce expansion in Thailand. The seamless and secure online payment experience has encouraged more people to shop online, boosting the digital economy.
- Driving Innovation in Fintech: The success of PromptPay has spurred innovation in the Thai fintech sector. New services and applications are being developed to leverage the PromptPay infrastructure, creating a vibrant ecosystem.
- Promoting Economic Growth: By increasing efficiency and facilitating transactions, PromptPay contributes to overall economic growth and development.
The Future of PromptPay
PromptPay is still evolving. The Bank of Thailand continues to enhance and expand its capabilities. Future developments may include:
- Cross-border payments: Apart from the countries mentioned above PromptPay is expanding to other countries to facilitate seamless international transactions. This is already being piloted with neighboring countries like Laos and Cambodia.
- Integration with other services: Further integration with e-commerce platforms, government services, and other digital platforms.
- Enhanced features: Adding new functionalities, such as recurring payments, bill splitting, and more sophisticated security measures.
Conclusion
PromptPay is a prime example of how a real time payment system can change a nation’s financial landscape. Its simplicity, speed, affordability, and security have gained trust in the people of Thailand and have become an integral part of their day to day activity. Promptpay’s success is a great example to other countries looking to modernize their payment infrastructure and embrace the digital economy.