Veerathai Santiprabhob: Collaboration on Adopting Standardized QR Code for e-Payment

Speech by Dr Veerathai Santiprabhob, Governor of the Bank of Thailand, at the Press Conference, Bangkok, 30 August 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
01 February 2018
by Veerathai Santiprabhob
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  |  4 pages

I am very pleased that all payment service providers in Thailand are here to announce their collaboration on adopting QR Code standard for payments. This is considered an important milestone for which the standardized QR Code has been implemented in Thailand. It is also the first time that five international payment card network providers and Thai financial service providers have mutually agreed to adopt the same QR Code standard in providing payment services in Thailand.

It is recognized that electronic payment (e-Payment) is a crucial component in driving a digital economy, where technologies have beenutilized to deliver better services for consumers and businesses, to increase financial inclusion, to raise efficiency and to reduce costs; thus, enhancing the country's competitiveness and supporting 'ease of doing business' principle.