Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System

Banking

Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes. The Bank of Thailand (BOT) and the Monetary Authority of Singapore (MAS) have launched on Thursday a linkage of Thailand’s…

Finance Ministry cuts 2021 GDP forecast to 2.3%

Banking

Finance Ministry cuts 2021 GDP forecast to 2.3% The Finance Ministry slashed its 2021 GDP growth forecast from 2.8 per cent to 2.3 per cent on Thursday, citing the impact of fresh Covid-19 outbreaks on the Thai economy. The surge in infections here and abroad would affect international travel to Thailand, said the ministry’s Fiscal…