What is PromptPay? PromptPay Review

use

Customers can use three electronic channels to easily transfer funds to the recipient’s mobile number or account registered with the citizen ID, or the tax number of the company/supplier previously registered with PromptPay.

You can use PromptPay to transfer money even if you are not registered. Simply enter the recipient's mobile number or citizen ID number instead of a bank account number.

Transfer Fees

The latest regulation on enterprise-level PromptPay electronic transfer fees is that if the amount is less than 100,000 baht, the fee for each transaction shall not exceed 10 baht. If the amount exceeds 100,000 baht, the maximum fee that can be charged per transaction is 15 baht.

If it is an ordinary individual to corporate electronic transfer, it will be handled in accordance with the regulations for ordinary individual electronic transfers, that is, no handling fee for a single transaction less than 5,000 baht. A maximum of 2 baht per transaction can be charged for a transfer amount of 5,000-30,000 baht; a maximum of 5 baht per transaction can be charged for a transfer amount of 30,001-100,000 baht; and a maximum of 10 baht for a transfer amount of more than 100,000 baht.

Whether it is an individual or a business, as long as the bank account and the 13-digit tax number are linked, they can enjoy the new transfer fee regulations.

Development History

As of 2016, 15 commercial banks and 4 financial institutions have partnered with PromptPay.

Data as of December 2016 showed that initial registrations for the PromptPay program reached 18 million people, accounting for 48% of the total employed population.

On January 27, 2017, Thailand's inter-personal transfer service "PromptPay" was launched simultaneously across the country, marking the first step in the official implementation of the National e-Payment plan, which will be expanded to other areas in the future.