The co-badged debit card supports the government’s e-payments plan.
Bangkok, Thailand — May 3, 2017 — Mastercard, in collaboration with National Interbank Transaction Management and Exchange (ITMX), today jointly introduce ‘PromptCard Debit Mastercard’ – the first co-badged payment product in Thailand under the PromptCard brand.
Mastercard, the leading financial technology company, and National ITMX are collaborating to offer PromptCard Debit Mastercard, developed in line with the Thai Government’s National e-Payment Master Plan to foster a digital economy and a cashless society in Thailand as consumers and businesses benefit from the greater convenience, safety, security and efficiency of electronic payments.
The co-badged debit card provides the peace of mind Thai cardholders are looking for, featuring world-class safety and security with cutting edge chip-and-PIN technology. PromptCard Debit Mastercard offers access to Mastercard’s global merchant network, and can be used for cash withdrawals, fund transfers and other transactions at ATMs, as well as making payments to merchants in Thailand and worldwide.
Wanna Noparbhorn, Managing Director, National ITMX, said, “National ITMX will process local PromptCard Debit Mastercard transactions to provide member banks and Thai consumers with an efficient and stable debit card scheme with best-in-class infrastructure and operational systems. National ITMX and our global strategic partner Mastercard are working together to introduce innovative electronic payment products that adhere to Thai and international standards.”
David Chan, Senior Vice President, Market Development, South East Asia, Mastercard, said, “Mastercard is deeply committed to Thailand and is fully supportive of the government’s plan to lay a foundation for a digital economy and a cashless society. Today we are pleased to be playing an important part in this exciting future of payments in Thailand by launching PromptCard Debit Mastercard, in partnership with National ITMX. To truly harness Thailand’s e-commerce potential, it is vital we continue to support a payment network that can be accessed by the latest payment technologies that are firmly rooted in security and simplicity.”
Donald Ong, Country Manager, Thailand and Myanmar, Mastercard, said, “PromptCard Debit Mastercard is further testament to Mastercard’s commitment to developing innovative payment products, helping consumers transact more safely and more securely than ever before and providing greater peace of mind. Today’s launch is a significant undertaking that marks the first major milestone in our partnership with National ITMX.”
PromptCard Debit Mastercard will be initially supported by 4 longstanding partner banks: Citibank, Siam Commercial Bank, Thanachart bank, and UOB. The card is also accepted by Mastercard’s worldwide network of merchants.
About National ITMX
National ITMX is established to be National Payment Switch for the country. The company was established in 1993 originally as ATM Pool Co., Ltd. to satisfy Thailand’s electronic payment systems under direction of TBA, BOT and MOF. ITMX system is the key inter-bank payment infrastructure of the country that supports all kinds of e-payments from various channels including ATMs, counters, internet, and mobile channels.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
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