Thailand’s National Interbank Transaction Management and Exchange (ITMX) has implemented ACI Worldwide’s real-time payments technology.
Owned by Thailand's largest commercial banks and governed by the country's central bank, National ITMX is responsible for developing and delivering Thailand’s digital payments infrastructure, including card-based, non-card-based and account-to-account payments.
ACI's real-time payments technology is now live across all 33 ITMX members, modernising Thailand’s bulk payments processing system and bridging ISO 20022 and the existing ISO 8583 standard.
"Thailand has experienced phenomenal year-on-year real-time payments growth of 145 percent since 2016, with consumers embracing the first wave of payments modernization. The next stage of growth, utilizing the PromptPay real-time payments network and ISO 20022 standards, will come from the merchant retail and business-to-business sectors," says Wanna Noparbhorn, MD, National ITMX.
Leslie Choo, SVP - Asia, ACI Worldwide, adds: "ITMX has demonstrated that a rapid shift from paper-based to digital payments is possible through harnessing the possibilities of real time for all ecosystem participants, a model that other countries may look to emulate."