The Thai Bankers Association has decided to postpone the launch of its PromptPay service to the first quarter of next year to ensure the system is effective.
Thai Bankers Association Chairman Preedee Daochai said more time was needed to test data sharing and connectivity among participating banks despite their readiness to offer the service to clients.
PromptPay service is developed by the banking sector in response to the Government’s policy on national e-payment system. It will facilitate the government and private sector in payment transactions and fund transfer between bank accounts, using only the citizens’ phone numbers or ID numbers.
However, many have delayed their registration, fearing that their personal data would no longer be secured.
But Preedee said it will require more time to ensure the system’s stability as it consists of various types of online transactions between banks. The service will be offered to bank clients in the first quarter of 2017 instead of this month as previously scheduled.
However, those entitled to the government’s social welfare payments will being to receive their money via PromptPay during the fourth quarter of the financial year, National News Bureau of Thailand reported.
