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Hong Kong-Thailand digital payment systems go live

Hong Kong and Thailand’s digital payment systems, Faster Payment System (FPS) and PromptPay, respectively, will become interoperable, from December 4. The move is expected to ease currency exchange hassles for travellers between the two regions. It also follows an agreement between the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand. Hongkongers can use FPS for purchases in Thailand, while Thais in Hong Kong can use PromptPay where QR code payments are accepted. Transactions will utilise real-time foreign exchange rates. HKMA CEO Eddie Yue highlighted the convenience for Hong Kong residents travelling to Thailand during the holiday season, emphasising the ability to transact at over 8 million Thai merchants without prior currency exchange.

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