# Thailand’s Digital Finance Journey: Lessons for ASEAN

- Link: https://www.thailand-business-news.com/banking/174822-thailands-digital-finance-journey-lessons-for-asean
- Published: 2024-11-14T09:23:00+07:00
- Author: SiamNews PR

**Dr. Sethaput Suthiwartnarueput discussed Thailand’s payment policy implementation
at the Singapore FinTech Festival, focusing on enhancing efficiency and security
through initiatives like the PromptPay system and QR code standards. The Bank of
Thailand is preparing to promote the Your Data project to support more inclusive
access to financial services.**

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## Key Takeaways

 * Thailand has made significant progress in enhancing digital payment systems through
   initiatives like the PromptPay system and QR code standards.
 * The Bank of Thailand is working on increasing international connectivity of payment
   systems and promoting the use of digital footprints to improve access to financial
   services.
 * There will be increased measures to enhance the security of digital financial
   services in Thailand.

On November 7, 2024, Dr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand,
participated in a discussion at the Singapore FinTech Festival organized by the 
Monetary Authority of Singapore. The discussion was on the topic “Thailand’s Digital
Finance Journey: Lessons for ASEAN.” He shared experiences regarding Thailand’s 
payment policy implementation, which has developed payment infrastructure such as
the PromptPay system and QR code standards, focusing on enhancing efficiency alongside
security. This has significantly improved access to digital payment systems within
the country.

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Going forward, in addition to increasing the connectivity of payment systems internationally
through various forms, both bilateral and multilateral, such as Nexus and mBridge,
which address different needs, the Bank of Thailand is preparing to promote the 
development of infrastructure that will enable people to use their digital footprint
to support more efficient and inclusive access to financial services through the
Your Data project. Additionally, measures to enhance the security of digital financial
services will be increased.

**Source** : [https://www.bot.or.th/en/news-and-media/news/news-20241112.html](https://www.bot.or.th/en/news-and-media/news/news-20241112.html?rand=113190)

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