Chief Executive of the Hong Kong Monetary Authority Eddie Yue Wai-man (left) and Governor of the Bank of Thailand Sethaput Suthiwartnarueput attend the launching ceremony of the FPS x PromptPay Link. (PHOTO / HKSAR GOVERNMENT)

HONG KONG - The Hong Kong Monetary Authority and Thailand's central bank on Monday launched a link for cross-border QR payments, they said in a joint statement.

With this linkage, travelers from Thailand and the Hong Kong Special Administrative Region 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, according to the statement.

The launch of this service today marks an important milestone to the FPS in Hong Kong in expanding its usage to cross-border payments. 

Eddie Yue Wai-man, Chief Executive of the Hong Kong Monetary Authority

This will provide travelers with greater convenience, supporting tourism and economic activities of the HKSAR and Thailand, it added.

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“The HKMA is very pleased to work with the Bank of Thailand on this initiative which provides a safe, convenient and efficient means for travelers to make cross-border retail payments,” Eddie Yue Wai-man, Chief Executive of the Hong Kong Monetary Authority, was quoted as saying in the statement.

“The launch of this service today marks an important milestone to the FPS in Hong Kong in expanding its usage to cross-border payments,” he added.

Sethaput Suthiwartnarueput, Governor of the Bank of Thailand, said this collaboration with the HKSAR is an important milestone in Thailand’s digitalization efforts and demonstrates its commitment to create more efficient and inclusive cross-border payments in the region.

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“This linkage will bring tangible benefits not only to the 1.5 million tourists from these two economies, but also merchants serving them as well,” he added.

With Reuters inputs