Thailand Payment Landscape

Payment Landscape

Thailand Payment Landscape

Thailand's payment landscape is driven by the Bank of Thailand (bot), and the core infrastructure is PromptPay, a real-time payment network, operated by National ITMX.Thailand has one of the highest QR code payment penetration rates in the world, with a mature payment network and e-wallet ecosystem. Its unique 23:00 settlement switching point also determines the special rules for the cancellation of transactions in Thailand.

1

Regulatory & Payment Structure

Body	Responsibilities
Bot (Bank of Thailand)	Regulation of payment landscapes to promote national e-Payment programs
National ITMX	National interbank information transfer company, operating systems such as PromptPay
BAHTNET	The Bank of Thailand's Large Amount Real-Time Full Amount Settlement System

2

PromptPay real-time payment

PromptPay is bot driven National real-time payment network, operated by National ITMX.It is the cornerstone of digital payments in Thailand.

• Arrival time: Real-time (seconds)
• Operating Hours: 7 × 24 hours
• Identification method: Phone number, ID number, Tax ID, etc. (one ID can be tied to a bank account/wallet)
• Participating Institutions: Covers all major banks in Thailand
• Limit: Cumulative limit per lump sum/day, varies by bank (usually around 200,000 THB per lump sum)
• Government/Tax Refund Purpose: PromptPay is bound to the national identity card number and is widely used in government subsidy issuance, tax refund and other scenarios

3

QR Code Payment Thailand

Thailand is one of the most popular countries in the world for QR code payments. Thai QR Code is based on the EMV standard and is mainly divided into two types:

Static QR

Fix the QR code, link the merchant collection account, and enter the amount to pay after the user scans the code.

• Generated by the merchant in advance, can be printed and posted
• The user enters the amount themselves after scanning the code
• Suitable for fixed offline payouts

Dynamic QR

Each transaction is generated in real time, including the QR code of the amount, and the user pays directly after scanning the code.

• Generate new codes per transaction
• Amount already included in QR code
• Suitable for online payment, accurate reconciliation
• Support transaction reversal(Unsettled orders on the same day)

From the interactive mode, the Thai QR code also distinguishes Merchant Presented QR And Customer Presented QR (User Presented Code, Merchant Scanned), the former is most common in retail cashiering.

⚠️Thailand Dynamic QR (TH_THAILAND_DYNAMIC_QR) transactions support voids, but there are strict time limits (before 23:00 on the same day). See Void Overview.

4

eWallet

Major e-wallets in Thailand:

• TrueMoney: One of the largest e-wallets in Thailand, operated by Ascend Money (Ant Group), covering payments, transfers, credit, insurance
• LINE Pay / Rabbit LINE Pay: Payment wallet based on line communication platform, connected with Bangkok BTS transportation card (Rabbit Card)
• ShopeePay / Lazada Wallet: Built-in wallet for e-commerce platforms
• Paotang(เป๋าตัง): The Thai government launched a wallet for government subsidies (such as "we win", half per person), which has a very high penetration rate

5

Card payment

• Visa / Mastercard: Online payment by international card organization with 3D Secure (3DS 2.x) verification
• Thai QR Payment: PromptPay-based card QR code payment
• JCB / UnionPay: It also has a certain share in Thailand

6

Payment clearing system

System	Description
PromptPay	Real-time retail payment, transfer based on mobile phone number/ID number, 7 × 24
BAHTNET	Large interbank transfer system, real-time full settlement (BAHTNET II is an upgrade)
ITMX e-Payment	Interbank e-payment, small batch clearing
Cheque Clearing	Check clearing system

💡23:00 Checkout switch point: The Thai local payment landscape switches between checkout at 23:00 (Thai time) every day, which is the underlying reason why the Thai dynamic QR code supports "same-day cancellation" — orders before —23:00 can be canceled before switching, and after switching, it is considered to be settled.

7

PayCools Competency Mapping in Thailand

Ability	Description
Acquisition	Supports PromptPay dynamic/static QR code collection, cashier and pure API mode
Payout	Supports payouts to local bank accounts; arrival time depends on the bank channel
Split/Refund/Reversal	Support splitting the account and refunding the original route; Thailand Dynamic QR Code Support Same Day Revocation(Before 23:00)