Asia Business Channel

Japan’s NTT Data partners with the Bank of Ayudhya to enable QR code payments

 

Japan’s NTT Data Corporation announced that is will partner with Thailand’s Bank of Ayudhya to offer a cross-border QR code payment service to Thai consumers who are visiting or working in Japan.

Under the terms of the agreement, NTT will provide its IT infrastructure to the Bank of Ayudhya to provide Thai nationals in Japan, mainly travelers, with the NTT’s cashless payment service that is linked with My Prompt QR, Thailand's electronic settlement platform operated by the country's central bank.

NTT Data will relay payment data that it receives from the transactions of Thai consumers in Japan to My Prompt QR-issuing banks in Thailand while Ayudhya, a consolidated subsidiary of Japan's MUFG Bank, will provide transaction data collected through a mobile banking app to its Japanese partner.

A senior NTT official discussed the new partnership and said the service will be launched by the end of December, or at a time when international travel resumes. The key consideration at this point is the global Covid-19 pandemic, which is limiting the ability of tourists from Thailand and across the world to visit Japan. The NTT official said that the new service can be implemented as soon as the government gives it approval to international travel.

 

 

 

Read 303