Study: Thailand a global leader in real-time paymentsThailand was No.3 globally for real-time payment transactions last year, behind only India and China, driven by the government's support for modern infrastructure, says ACI Worldwide, a real-time payments software provider. Thailand registered 9.7 billion real-time transactions in 2021, trailing India with 48.5 billion and China with 18.5 billion. He said Thailand's real-time payments implementation strategy has delivered the fastest expansion of low-value payment capabilities in Asean, facilitated by a mobile-friendly population and support from the government, such as using real-time payments to disburse government subsidies and funding to farmers. ITMX, the national real-time payments switching system, co-owned by the largest banks and governed by the Bank of Thailand, has helped modernise parts of the legacy payments infrastructure. According to the report, global real-time transactions reached 118 billion in 2021, up 64.5% year-on-year.

Source: Bangkok Post June 15, 2022 06:43 UTC