Siam Commercial Bank (SCB) and mobile payment startup and digital wallet provider KogoPAY recently inked a Memorandum of Understanding (MoU) to offer QR code payment and ATM withdrawal services for the convenience of British and European tourists visiting Thailand. 

The partnership will serve as a payment option that is convenient, quick, and secure, allowing these visitors to seamlessly use the KogoPAY mobile wallet to make QR code payments at merchants accepting Thai QR code payments nationwide.

Mr. Thanawatn Kittisuwan, First Executive Vice President and Head of Digital Juristic & Payment at Siam Commercial Bank said, "In response to the tourism sector’s constant rebound since 2023, SCB is focusing on increasing our ability to respond to the spending behavior of tourists who prefer making digital payments. This trend is in line with our statistics from 2023, which show growth in the number of QR payment transactions leaping over 60% compared to 2022. 

As these figures continue to rise, we aim to simultaneously promote a cashless society and make life more convenient for foreign tourists. We have therefore joined hands with KogoPAY to offer QR code payment and ATM withdrawal services as a convenient, quick, and secure payment option for British and European tourists visiting Thailand. While this efficient money payment solution answers the spending needs of international tourists, funds are also instantly available in merchants’ accounts. We are ready to support the rapid growth of digital transactions in Thailand.”

Dr. Narisa Chauvidul-Aw, Chief Executive Officer KogoPAY (Thailand) said, “According to the Tourism Authority of Thailand, in 2023 the country welcomed over 33 million international tourists. 

Those from the UK ranked 7th, with some 1.24 million tourists, and Germany took the 8th position with 1.09 million tourists. Millions of British and European tourists visiting Thailand each year indicate a continuously increasing trend. Our partnership with SCB will bring a seamless financial experience to these tourists, who can conveniently make QR code payments at merchants accepting Thai QR code payments via their KogoPAY mobile wallet. This initiative underscores KogoPAY’s mission to continuously deliver financial innovation and borderless financial services and SCB’s commitment to making cross-border payments worldwide simple for everyone.”