The Bank of Thailand has continuously developed and promoted payment systems by employing modern technologies to enhance efficiency and facilitate users as well as ensure that electronics payment is sound, secured, and in line with international standard.
The Payment Systems Committee (PSC), chaired by the BOT Governor, is responsible for setting payment systems policy that is consistent with business development and technological advancement.
The payment systems development is conducted under the current framework of Payment Systems Roadmap 2012 – 2016, aiming to boost payment systems efficiency, reduce settlement risks, protect and educate users by focusing on:
- Promoting and developing electronics transactions such as Mobile payment/banking, e-money, the establishment of Local Switching system, and standard of messages used in sending payment information.
- Promoting payment services accessibility such as mobile payment/banking.
- Improving safety in electronics card usages to enhance confidence in using debit cards, ATM cards, and electronics money.
- Preparing for the upcoming establishment of the ASEAN Economic Community (AEC) by arranging settlement infrastructure to accommodate cross-border electronics payments.
- Protecting and educating users to enable them to choose appropriate services and create confidence in using payment services.
The BOT also supports the connection of regional payment network in the form of Asian Payment Network that will pave way for ASEAN electronics card linkage. At present, users can withdraw money from ATM regional network and within the next few years, they should be able to pay for goods and services as well.
Financial institutions can find more information about Payment Systems Statistics, Payment Systems Notification & Circular, E-Payment service providers supervision, and Publications concerning payment systems such as annual report, articles, research papers, books etc. through the BOT website. In addition, financial institutions can also access exclusive information for members about projects relating to payment systems that are not revealed to the public.
In case financial institutions have any query about practical guidelines, need advice, or find difficulties regarding payment systems, they can reach officials directly responsible for respective financial institutions at BOT contact officers
Useful information about payment systems for financial institutions:
- Payment transactions
- E-Payment service providers supervision
- Payment Systems Policy
- Related laws and regulations
- Payment systems members
- Definition of payment systems terms
- List of e-Payment service providers