9 October 2020
Bangkok/ Tokyo (9 October 2020) – Krungsri (Bank of Ayudhya PCL and its business units), a leading commercial bank in Thailand providing financial solutions through digital innovation and technology, and NTT DATA Corporation (NTT DATA), Japan’s major provider of a large-scale comprehensive card settlement network service for financial transactions and payment solutions, officially announced their collaboration agreement in introducing MyPromptQR, the latest and most advanced cross-border QR code payment platform for Thai consumers in Japan.
Whilst MyPromptQR unveils the new chapter of Thai QR payment system aligning with the Bank of Thailand’s payment system roadmap, the collaboration between Krungsri and NTT DATA marks another key milestone of Krungsri’s ‘Digital First’ strategy setting a foothold in Japan, after being the first Thai bank which successfully launched a cross-border QR payment system in Japan last year.
Mr. Sayam Prasitsirigul, Deputy Chief Information and Operations Officer and Acting Head of Digital Banking and Innovation Division said; “The development of MyPromptQR has taken Krungsri’s aspiration to be a leader in financial innovation and digital banking to the next level. We are very pleased to have worked with NTT DATA which facilitates the largest card settlement network in Japan through its established business platform. The Krungsri- NTT DATA synergy has contributed to the success of Krungsri’s journey to capture business opportunities in Japan.”
Equipped with innovative financial know-how together with NTT DATA’s collaboration and by leveraging comprehensive expertise and extensive networks of Krungsri’s parent company, Mitsubishi UFJ Financial Group (MUFG) which is Japan’s largest financial institution and one of the world’s leading financial groups, Krungsri is in a solid position to offer MyPromptQR, the state-of-the-art financial innovation, to better meet diverse demands of its customers internationally and to set a strong foothold in the QR payment in Japan.”
Masanori Kurihara, Head of Cards & Payments Services Division in NTT DATA said; “NTT DATA is proud to be a part of the development of Thailand’s MyPromtQR system. With the strong network in Japan, we will connect the MyPromtQR system with the merchant network, enabling Thai consumers to make payments more conveniently and securely. As the Covid-19 pandemic is still a concern and suspends the international travel, during this initial stage, Krungsri and NTT DATA plan to launch the MyPromptQR in the fourth quarter of 2020 or when international travel is expected to resume. The service will be expanded into stores and shopping centers across Japan in the next phase of collaboration.”
MyPromptQR, the first Thailand’s business-scan-consumer cross-border QR code platform in Japan, will give the users seamless experience through Krungsri Mobile App and other banks’ mobile banking apps. It makes payment with higher security, more convenience and better speeds without cash handling for both consumers and businesses. They just present their one-time QR code generated on a mobile banking app to the merchants to scan for payment without the need to enter the amount.
Headquartered in Tokyo, NTT DATA is a major player in providing a comprehensive card settlement network service and a large-scale network service to handle financial transactions and payment solutions in Japan. NTT DATA provides various payment solutions in Japan, such as POS payment solutions to about 2,000 of retailers, payment terminals to about 850,000 actual merchants, EC payment solutions to about 3,000 of EC merchants, and storage agent solutions to about 43,000 convenience stores.