HKMA announces launch of FPS and PromptPay Link between Hong Kong and Thailand

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) announced the launch of the FPS x PromptPay Link for cross-border QR payments between Hong Kong and Thailand on Monday.

This initiative, which was announced today, will provide a fast, secure, and easily accessible cross-border retail payment service to travelers from Thailand and Hong Kong who will be able to make retail payments by using their mobile payment applications to scan the Hong Kong FPS QR code and Thai PromptPay QR code displayed by merchants, respectively.

This faster payment method will provide travelers with greater convenience while supporting Hong Kong and Thailand's tourism and economic activities.

The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue Wai-man, said that the HKMA is delighted to work with the BOT on the initiative, which provides a safe, convenient, and efficient means for travelers to make cross-border retail payments.

He added that the launch of this service today marks a significant milestone for the FPS in Hong Kong in expanding its usage to cross-border payments.

The Governor of the BOT, Sethaput Suthiwartnarueput, said this collaboration with Hong Kong is an essential milestone in Thailand's digitalization efforts and demonstrates their commitment to creating more efficient and inclusive cross-border payments in the region.

They believe this linkage will bring tangible benefits not only to the 1.5 million tourists from these two economies but also to the merchants serving them.

Both authorities strongly believe this cross-border QR payment will result in a safer, more efficient, cost-effective alternative to retail payment for the general public.

It will also serve as a catalyst for more collaborations on financial innovations in this dynamic region in the coming years.