Residents of Hong Kong can now use their digital wallets to make payments in Thailand through a cross-border QR payment linkage between Hong Kong’s Faster Payment System (FPS) and Thailand’s PromptPay.
The daily transaction limit for this program is set at HK$10,000. Hong Kong merchants can join without any fees, but users will have to pay foreign exchange costs and handling fees. The Hong Kong Monetary Authority plans to explore similar linkages with Indonesia, Malaysia, and Singapore.
The Hong Kong FPS has 13 million registered users and processes about 1.3 million transactions per day.
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