The Bank of Thailand (BOT) has announced the launch of a new initiative, the cross-border QR payment linkage between Thai banks and three Chinese payment service providers (Alipay, UnionPay, and WeChat Pay), on last Thursday.
The central bank said in a statement that this marks the success of linking the instant retail payment systems of both countries, through private collaborations under the guidance of BOT, to support bilateral trade, investment, and tourism.
The cross-border QR payment linkage will facilitate economic activities between Thailand and China, particularly those related to the tourism sector.
It is noted that Thailand and China enjoy significant bilateral tourism, with the number of Thai and Chinese tourists traveling between both countries reaching 8.8 million in 2024.
This initiative is made possible through the collaboration of various stakeholders from both jurisdictions.
These include the National ITMX (NITMX), three Chinese service providers, Bangkok Bank and Krungthai Bank as Thai settlement banks responsible for cross-border settlements.
From October 30, 2025, users from China will be able to use Alipay, UnionPay and WeChat Pay to scan Thai merchants displaying Thai QR Codes issued by Bangkok Bank, Krungthai Bank, KasikornBank, Industrial and Commercial Bank of China (Thai), Siam Commercial Bank, and Bank for Agriculture and Agricultural Co-operatives.
More banks will be onboarded in the near future, according to BOT.
The BOT said it also recognizes the importance of implementing cross-border real-time payment linkages, which enhances convenience for consumers and creates trade opportunities for businesses through a secure, efficient, and cost-effective QR Code payment system.
Currently, collaboration has been expanded to nine jurisdictions, providing an alternative option for cross-border retail payments, supporting regional economic growth, and advancing the transition toward a digital society.