Kasikornbank is first to benefit from the integration
Bangkok – February 25 2019 – Mastercard has partnered with Thailand’s local switch company, the National Interbank Transaction Management and Exchange (ITMX), to widen e-commerce acceptance of Thai debit cards in the country. Through this partnership, Mastercard has become the first global payment gateway to connect directly with ITMX. The integration allows Mastercard’s Payment Gateway Services to connect global and local merchants seamlessly to millions of debit cardholders in Thailand.
Apart from connectivity, this development also enables enriched security, efficiency and increased scale which will especially benefit merchants with large transaction volumes originating from Thailand. Consumers can also expect safe and secure e-commerce payments that are optimized for digital devices.
Kasikornbank will be the first bank to provide this service and its merchants will benefit from this integration by being able to accept domestic debit cards.
Ms. Wanna Noparbhorn, Managing Director of National ITMX, said: “National ITMX, as a service provider of local switching systems for local debit cards, is pleased to join forces with Mastercard to connect the company’s platform with Mastercard’s Payment Gateway Services in order to support e-commerce payments using local debit cards. By using Mastercard’s Payment Gateway Services through National ITMX and member banks, merchants can be assured of an international standard of security that complies with the Bank of Thailand’s regulations. This service provides merchants and customers with a more convenient way to make online purchases. It will also lower implementation costs for member banks, and support the government’s national e-payment and cashless society agenda.”
Donald Ong, Country Manager Thailand and Myanmar, Mastercard, said, “Mastercard actively supports the Thailand government’s long-term plan of achieving a progressively digital economy. Mastercard is pleased to partner with National ITMX to enable Thailand to go cashless through technology that ensures greater efficiency and security for debit card transactions. The partnership will not only benefit consumers, merchants and other stakeholders, but will enable Thailand’s digital economy to scale and thrive.”
About National ITMX
National ITMX (National Interbank Transaction Management and Exchange), established by the Thai Bankers’ Association under direction of Payment System Committee (PSC) governed by Bank of Thailand (BOT), is a developer and service provider of the electronic payment infrastructure of Thailand. ITMX system is an open platform that is secure and efficient with the ability to respond to rapid change of business demands. ITMX supports all kinds of electronic payments and fund transfers from various channels including ATM, EDC, OTC, Internet and mobile. Services also include “PromptPay”, a key service to support the National E-payment masterplan, which is part of government’s Thailand 4.0 initiative.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects 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, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Mastercard Communications Contact
Nishaa Tolani, Consumer Marketing & Public Relations
Rungnapa Charnwiset, Weber Shandwick
+662 343 6000 Ext. 061
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