PromptPay system that allows individuals to transfer money by using a mobile number in Thailand will soon be linked to Paynow, Singapore's version of the same system. It will allow people in Singapore and Thailand to send money to each other more easily.
Monetary Authority of Singapore (MAS) managing director Ravi Menon said at the Singapore Fintech Festival 2017 that this is one of several moves Singapore is taking to further it's Smart Nation agenda.
The MAS and the Bank of Thailand have agreed to work together to link PayNow and PromptPay, he said.
When ready, people in Singapore and Thailand will be able to send money to each other using just mobile phone numbers.