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.

RELATED ARTICLE

Responsive image

Thailand's top mPOS startup Digio garners Series A from InVent

InVent, a VC arm of Intouch Holdings Public Company Limited (SET: INTUCH) has invested in a Series A financing round for payment and e-wallet technology startup Digio (Thailand) Co...

Responsive image

Bangkok Bank partners with Nest to draw 8 new startups into its Global FinTech Accelerator Program

Bangkok - June 27, 2017: Bangkok Bank Public Company Limited (Bangkok Bank) and its partner Nest, a global innovation platform supporting entrepreneurs, have selected eight of the ...

Responsive image

Krungsri Finovate successfully leads Series B plus round in Omise

Bangkok — September 28, 2017, Krungsri Finovate, a subsidiary of Krungsri (Bank of Ayudhya) and member of the Mitsubishi UFJ Financial Group (MUFG), announced today the completion ...