Thailand Strengthens Cross-Border Digital Payments with New Partnership Between Ant International, National ITMX, and Krungthai Bank
Under the leadership of the Bank of Thailand (BOT), the country’s financial ecosystem is taking another significant leap toward regional and global integration. Ant International, a leading provider of global digital payments and financial technology solutions, and National ITMX (NITMX), Thailand’s national payment network operator, have joined forces to enhance PromptPay’s cross-border payment connectivity between Thai merchants and Chinese consumers. The initiative is set to launch soon, with Krungthai Bank appointed as the settlement bank for the project.
This new collaboration will allow Chinese travelers visiting Thailand to use Alipay—an Alipay+ e-wallet partner—to make payments seamlessly at millions of Thai merchants by simply scanning the PromptPay QR code. The partnership represents a major step toward realizing Thailand’s vision of a borderless payment ecosystem, strengthening both tourism and trade flows between Thailand and China.
Expanding the Reach of Thailand’s National Payment System
Launched in 2016 by the Bank of Thailand, PromptPay serves as the cornerstone of Thailand’s national digital payment infrastructure. Operated by National ITMX, the system enables payments across various channels—spanning domestic transfers, bill payments, and more recently, cross-border transactions. With this new initiative, PromptPay’s network will become more globally connected, allowing travelers to experience real-time, interoperable digital payments between countries.
Mr. Chatchai Dusadenoad, Managing Director of National ITMX, emphasized the significance of the collaboration, calling it a milestone for both Thailand and China.
The launch of cross-border payment services between PromptPay and Alipay marks not only a significant enhancement of convenience for travelers from both countries but also opens new business opportunities for Thai merchants of all sizes—from small entrepreneurs to large enterprises—by connecting Thailand’s payment infrastructure to the global financial network,” said Mr. Dusadenoad.
He further highlighted National ITMX’s role as the backbone of Thailand’s digital financial ecosystem, driving innovation, connectivity, and competitiveness.
This linkage of QR payment systems between Thailand and China will drive the continued growth of tourism, trade, and investment between the two nations, while strengthening Thailand’s economic foundation for the future,” he added. “National ITMX remains committed to enhancing the country’s financial infrastructure to meet the evolving needs of the digital era and support users across all sectors.
A Shared Vision of Seamless Global Connectivity
For Ant International, this collaboration is aligned with its mission to create a globally connected, inclusive digital payment network. Edward Yue, General Manager for SEA, ANZ, and South Asia at Ant International, said that the initiative demonstrates a shared vision with the Bank of Thailand to make cross-border commerce more accessible.
Our partnership with NITMX and Krungthai Bank builds on the Bank of Thailand’s commitment to reducing barriers between global consumers and local merchants—a vision that we also share,” said Yue.
With Thailand and China celebrating 50 years of diplomatic relations, the partnership holds not only economic significance but also cultural resonance.
Tourism is an important economic and cultural bridge between Thailand and China. Our partnership will unlock new opportunities in this next chapter of the journey between both countries,” Yue continued. “We aim to enhance global connectivity between travelers and local businesses, enabling more opportunities in cross-border commerce and inclusive growth.
The collaboration also complements Alipay+’s broader goal of payments interoperability, which connects international e-wallets to local merchant networks across Asia. By integrating Alipay into PromptPay, Ant International is helping to make digital payments easier, faster, and more inclusive—particularly for small businesses that benefit from access to global consumers.
Krungthai Bank’s Role in Building a Resilient Financial Infrastructure
Krungthai Bank, one of Thailand’s largest and most trusted financial institutions, has been appointed as the Settlement Bank for the Thailand–China QR Cross-Border Payment Project. This appointment underscores the central bank’s confidence in Krungthai’s robust digital infrastructure, security capabilities, and experience in facilitating cross-border financial transactions.
Ms. Nareerut Ariyaprayoon, Head of Retail Banking Product & Strategy Group at Krungthai Bank, expressed pride in the institution’s role:
Krungthai Bank’s selection as the Settlement Bank for this project marks another significant milestone for Thailand’s financial system,” she said. “It reflects the strong confidence in Krungthai’s capabilities as a commercial bank with secure, reliable, and efficient digital infrastructure that enables seamless international connectivity.
Nareerut noted that Krungthai’s role would not only simplify spending for Chinese tourists in Thailand but also expand income opportunities for small and medium-sized enterprises (SMEs) nationwide.
This serves as a vital mechanism to stimulate the local economy and drive sustainable growth in Thailand’s tourism sector,” she added. “In the first phase, Chinese tourists will be able to make payments by scanning merchants’ QR codes via Alipay, promoting continuous growth in tourism and the economies of both countries.
Strengthening Thailand’s Tourism and SME Ecosystem
Thailand’s tourism industry has long been a cornerstone of its economy, with Chinese travelers making up a significant portion of annual visitors. Before the pandemic, China accounted for nearly 30% of all international arrivals to Thailand. This new payment integration arrives at a critical time, as the Thai government aims to reinvigorate tourism and enhance digital convenience for foreign visitors.
By enabling QR code payments through familiar apps like Alipay, Thailand is making it easier for Chinese travelers to shop, dine, and explore without the hassle of currency exchange or cash transactions. The partnership is expected to increase tourist spending, particularly in small towns and local markets where PromptPay QR codes are already widely accepted.
For local merchants, especially SMEs, this initiative represents an opportunity to tap into a high-spending customer base without needing to adopt new hardware or complex systems. Payments will flow directly through the existing PromptPay network, with Krungthai Bank ensuring secure settlement and compliance.
Expanding Beyond Payments: The Digital Tourism Experience
The collaboration builds on a long-standing relationship between Alipay and Thailand’s tourism ecosystem. Since 2015, Alipay has been accepted across various segments of Thai travel—from shopping malls and restaurants to attractions and transportation hubs.
In 2024, the Tourism Authority of Thailand (TAT) became the first tourism board in the world to launch an in-app travel hub within Alipay, in partnership with Ant International. This hub allows Chinese travelers to access travel information, book tours, and enjoy special offers directly within the Alipay app.
With the new cross-border QR partnership, this ecosystem will expand further—connecting more small merchants, hotels, and local attractions to digital payment networks and marketing opportunities.
A Model for Regional Interoperability
This initiative reflects a growing trend across Asia toward payment interoperability, where national QR systems are linked through partnerships and shared standards. For instance, Thailand already has cross-border payment linkages with Singapore, Malaysia, and Indonesia, allowing users of participating wallets to scan and pay seamlessly across borders.
By connecting PromptPay with Alipay, Thailand continues to position itself as a leader in ASEAN’s digital payment integration efforts. The move also supports the Bank of Thailand’s strategic roadmap to build a more inclusive, efficient, and globally connected financial infrastructure.
